There are many reasons why a business may run into financial trouble but it's always important to remember that a business struggling financially is not necessarily a failed business. In many cases, businesses that are struggling financially can find relief by filing...
A fluctuating market and strong competitors can really take a toll on a company, no matter its size. Hancock Fabrics Inc., one of the biggest fabric sellers in the country knows a thing or two about that. It recently filed for Chapter 11 bankruptcy for the second time...
An insider claims the company recently skipped an interest payment and is discussing possible other options with bondholders. This step puts Sports Authority into a 30-day grace period. If the payment is not made within that period, a default will be triggered. The...
Most companies in New York and throughout the Unites States go through fluctuations. Some years are positive and bring a lot of growth, while others may be a bit stagnant financially or even see some decrease in profits. The main hope is that over time the company...
There are many songs written about love and its many downfalls and triumphs. It can be an emotional rollercoaster with, hopefully, a positive outcome. While we may not hear many songs written about bankruptcy, the same could be said about the process. When a business...
When we hear about a company being bought by another entity, we often see it as a negative step. But while change can be difficult for any business, this type of change may be a wonderful opportunity for a New York company to grow and improve. That's exactly what the...
As a business owner goes through the steps of establishing his or her business and growing it, the individual often turns to an attorney in order to make sure he or she is following all the laws related to that business. While one hopes to have their business...
While many might see bankruptcy as a bad word, it can actually be a wonderful thing for those who really need it. For example, Chapter 11 bankruptcy doesn’t mean the company is nearing its demise. It’s actually a great way to protect a company from creditors and give...
Businesses end up having to file for bankruptcy for a variety of reasons. Some may have to do with poor decision-making while others may have more to do with the economic climate. But what about the actual climate, as in our weather outside? For one company in New...
Inherently, an individual who sets out to own all or a portion of a business is a risk-taker. Among business owners the mantra of no risk no reward is a constant and even the most successful business models and business owners may experience financial hardships. From...
