A prominent Chicago gourmet foods retailer, Fox & Obel, recently announced that it will be filing Chapter 11 bankruptcy protection. The move come after a string of failed health inspections and a stiffening of competition in the area, an area of the city in which Fox & Obel was once the sole outlet for gourmet  … Read more

If you are a business owner saddled with large debts, and have creditors knocking at the door, it can be tough to maintain a level head and decide what to do for your company’s financial future. When it comes to the decision to file for bankruptcy this is even more the case. Hiring a Fort  … Read more

While individuals and businesses discuss the options presented by Chapter 7 and Chapter 13 bankruptcy, Chapter 11 provides debtors opportunities to restructure their payment plans that the other options won’t provide. Designed for businesses struggling with their finances, Chapter 11 allows debtors to continue running and profiting from their business. While a Chapter 7 bankruptcy  … Read more

When your business is considering bankruptcy, it is important to find the business bankruptcy attorney that is right for you. Knowing what to look for is key. This post will help you with what to look for, where to look for it, and what resources you should check out before embarking on the process of  … Read more

The American Airlines bankruptcy case has been anything but under the radar. For over a year, there has been much discussion about the future of the company, criticism over strategic restructuring moves, and some steep losses for prior employees. However, as the company moves forward they are hopeful the big changes ahead are going to  … Read more

With so many companies in bankruptcy in recent years, it leads many to question what the future of many similar companies hold. The truth is that no two business bankruptcy cases are alike, and no two cases of similar companies will end up with the same fate. So what are some of the differences in  … Read more

Retail stores and restaurant chains have been hit hard by the recession. Although just now gaining some financial ground in recent months, not all have been spared the scar of financial burden. The owner of the popular restaurant chain, Hooters, has filed for Chapter 11 bankruptcy protection. Restructure To Regroup Cornett Hospitality LCC owns and  … Read more

It has been a full year since American Airlines filed for Chapter 11 bankruptcy. Since the beginning we knew it wasn’t going to be easy and many sacrifices would be made. So how far have they come over the last year? And is a happy ending in sight? A Review American Airlines has made some  … Read more

Hostess Brands — the maker of such iconic baked goods as Twinkies and Wonder Bread — filed a motion with federal bankruptcy courts Friday to close its operations after striking workers across the country crippled its ability to maintain production. No More Twinkies? The closing will result in nearly 18,500 workers losing their jobs as  … Read more

Tough negotiations between American Airlines parent corporation, AMR, and the pilot’s union have continued over the last few weeks. Despite tough debt restructuring plans, the pilots are holding firm to their denial of alternative contract offers by AMR. However, the baggage handlers have decided to accept a new contract and avoid further negotiations. Proposal, Accepted  … Read more