Tennessee residents who recently paid for items at the specialty store Professional Appliance Direct may be out of luck. The Johnson City appliance supplier abruptly filed for Chapter 7 bankruptcy on April 3 without notifying customers - homeowners who have already paid for their appliances in advance. Now many residents are without their appliances and their money and have filed police reports against the store.
It can be challenging to keep a business afloat nowadays. Competition and mismanagement can quickly destroy a once-thriving company. Even schools can drown in debt, with bankruptcy the only viable option. This was the case for Tennessee charter school Boys Prep, which filed for Chapter 7 bankruptcy on Aug. 29.
For Tennessee residents who liked the idea of buying their mobile devices online at cheap prices, Wirefly was the ideal solution. However, the company, which seemed to be enjoying success, has suddenly gone out of business and filed for Chapter 7 bankruptcy. Meanwhile, customers and employees alike are left without a clue as to what exactly happened.