Pedigree is obviously an attractive attribute in business, but it must be accompanied by profitability. Although Sears has stood strong on that one anchor for far longer than a century, the iconic retailing giant has failed to deliver on the bottom line in recent years.
Tales of the storied but troubled toy retailer Toys "R" Us' demise might prove to be premature and ultimately unfounded. The once-venerable business that filed for Chapter 11 bankruptcy liquidation last year and was widely expected to be completely shut down might still "have a shot" at resurrection in some form.
The ax falls again.
We have stressed in select blog posts at the commercial New York law firm of Rich Michaelson Magaliff, LLP that careful deliberation is imperative prior to any decision being made concerning a Chapter 11 bankruptcy filing.
If you’re an experienced New York business owner, you know that complexity marks commercial activity in virtually every aspect. Few things in the business sphere are unnuanced and simple, whether they relate to company formation, financing, dispute resolution or any other matter.
"Somebody had to go," says a grocery industry analyst.
A national article pointing to a mass retailer's current financial challenges notes a collective nemesis that is sorely testing mall-based fixtures across the country.
An interesting article in a national publication stresses the importance of timing for many would-be commercial bankruptcy filers in New York and elsewhere.
We note a quick truth on our business law website for commercial enterprises eyeing a Chapter 11 bankruptcy filing as a viable strategy to overcome daunting financial and legal challenges.
Some law firms hold themselves out as deeply skilled in the counsel they provide business clients concerning Chapter 11 corporate bankruptcy, when in fact they don't have a particularly strong focus on that practice area.