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October 2015 Archives

Company files for Chapter 11 bankruptcy as part of plan to restructure and recover

When a company encounters serious financial troubles, for whatever reason, bankruptcy is never a pleasant option to consider. When other means of financial relief have been attempted and have failed, though, bankruptcy can in some cases provide a failing company the opportunity to restructure and move ahead with a working plan. That seems to be what is going on so far with American Apparel, the clothing manufacturer and designer which has made a name for itself with its controversial advertising and the legal problems surrounding its founder Dov Charney.

Crowdsourcing Internet company Quirky files for Chapter 11 protection

Today, successful businesses know that they must continue to innovate and be proactive when it comes to utilizing social media and other technology and Internet-based platforms. It's not enough, however, to simply throw up a Facebook page and ask followers to like your products and ideas. True innovation takes thoughtful planning and being willing to take a risk.