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March 2016 Archives

140-year-old funeral home files for Chapter 11

Some people who are new to the concept of bankruptcy as it relates to businesses may feel that the process is usually used by companies that pop up fast and quickly burn up. If a business has been around for a long time, some may think that it is somehow immune to financial woes. But it’s important to remember that a business, just like a person, can go through many transformations throughout its lifetime. The company may grow or get smaller, the owners may change and it may even change in terms of the type of services or products it provides. All of these changes could make it susceptible to financial instability.

Coal mining company may see Chapter 11 in its future

This week we continue our discussion on struggling businesses in the energy business. The mining business seems to be having a dark moment of its own. Recently, U.S. coal producer Peabody Energy Corp failed to meet an interest payment deadline. The payment was supposed to be in the amount of $71.1 million.