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Business & Commercial Bankruptcy Archives

Tennessee-based restaurant chain bankruptcy continues

Commercial bankruptcy options may provide beneficial resources and tools to struggling companies seeking to perform well once again. The commercial bankruptcy process for the Tennessee-based restaurant chain, Logan's Roadhouse, currently continues. The restaurant chain filed for bankruptcy earlier this summer, listing $347.2 million in assets and liabilities of $546.1 million. The restaurant chain expects to emerge from bankruptcy later this year after is has renegotiated leases and shed $300 million in debt.

Understanding the role of creditors in a business bankruptcy

A previous post here discussed business and commercial bankruptcy filings. One important aspect of the Chapter 11 business and commercial bankruptcy process is working with creditors and the meeting of the creditors. Once a petition for bankruptcy has been filed, a temporary stay goes into effect which prevents creditors from pursuing any collection actions. This period of time allows for the reorganization plan to be developed and contracts and leases with creditors can be renegotiated.

Commercial bankruptcy filings increase

It was recently reported that commercial bankruptcy filings have increased year-over-year, however, total bankruptcy filings declined for the first 9 months of the year and during September alone. The number of commercial bankruptcy filings for the first 9 months of this year increased 28 percent over filings for the first 9 months of 2015. In total, there were 28,789 commercial bankruptcy filings for the first 9 months of this year and 22,444 for the first 9 months of 2015.

Tennessee-based restaurant chain files for Chapter 11 bankruptcy

Business bankruptcy provides an option to help struggling businesses through a difficult time. Tennessee steakhouse chain Logan's Roadhouse recently filed for Chapter 11 bankruptcy protection. The restaurant chain plans to restructure and close restaurants that are performing poorly. The restaurant chain has experienced years of declining sales, and has seen a reduction in customer traffic. The bankruptcy filing is said to be representative of a trend in the restaurant industry away from traditional dining. Several restaurant chains have filed for bankruptcy, faced closures, have rebranded or experienced other challenges.

What should I expect when filing for Chapter 11 bankruptcy?

If you have considered different bankruptcy options for your business, and may be considering Chapter 11 reorganization bankruptcy, you may wonder what to expect from the process. The initial process is similar to any bankruptcy; once the filing party has filed for bankruptcy, an automatic stay is put in place to prevent any further creditor collection actions while the bankruptcy process progresses.

Tennessee-based restaurant chain files for Chapter 11 bankruptcy

Business bankruptcy is available to provide helpful options for companies seeking to return to a successful history. A Tennessee-based restaurant recently announced it was filing for bankruptcy and closing 18 of its 25 restaurants in Tennessee. The plan to close underperforming restaurants is part of an overall plan to improve the financial performance of the restaurant chain. The company filed for Chapter 11 reorganization bankruptcy. The parent company for the restaurant chain has secured $25 million in bankruptcy financing for the restructuring plan.

Bankruptcy for Tennessee company approved

This blog has recently discussed, in particular, how business bankruptcy options may help struggling business and professionals in Tennessee. The recent approval of the bankruptcy reorganization plan for a struggling papermaking company headquartered in Tennessee is a good example of how the bankruptcy reorganization process can be helpful for a struggling company. The company is the largest coated paper producer in North America.

How Chapter 11 bankruptcy actually works

This blog recently discussed the way business bankruptcy can help struggling businesses and professionals. A closer look at Chapter 11 bankruptcy may help business owners, professionals and others seeking debt relief better understand how bankruptcy may be an option to consider. Chapter 11 bankruptcy provides an option for businesses with heavy debt burdens to reorganize debts.

Bankruptcy options can help businesses and professionals

Businesses are not immune to challenging financial times. A decline in sales and profits, as well as tax challenges, may present significant difficulties for a number of companies struggling to stay in business. Business and commercial bankruptcy options are available to help struggling businesses and professionals faced with tough economic times or other financial challenges. Whatever led to the circumstances the business or professional is facing, reorganization bankruptcy options may be available to help them through it.

What bankruptcy means for a business's investors

Owning stock is a way for a Cleveland resident to own part of a company. Through exchanges like NASDAQ and the New York Stock Exchange a person can purchase shares in a variety of companies across a diverse collection of industries. Companies that offer stock to investors are often called publicly traded entities, and when a business is publicly traded it becomes accountable to those individuals and organizations that have invested in it.