One of the most popular pizza and sub chains filed for bankruptcy earlier this year. The Sbarro family started the business in Brooklyn, NY as an Italian grocery store in 1956 and eventually grew to open stores nationwide. After rising food costs and  recession reduced sales, this 50+ year old business took a huge hit  … Read more

It wouldn’t be the first big name company to have sought bankruptcy protection this year. Borders and Blockbuster both found themselves unable to recover from a serious debt burden earlier this year, and both resolved their financial troubles with the help of  Chapter 11. Kodak, however, is saying they are not planning to seek bankruptcy  … Read more

Owner of the NHL team the Dallas Stars, Tom Hicks, found himself facing tough decisions in May of this year. After struggling for nearly a year to keep up with payments Hicks sought bankruptcy protection to help resolve the team’s financial troubles. The Stars had been facing lawsuits from creditors after defaulting on several loans  … Read more

Debt, foreclosure and bankruptcy; all terms that are present in the news each day as our economy continues to take a toll on Americans everywhere. No person from any particular walk of life or socio-economic status is immune to its effects, and many people fear their options are running out. This was exactly the case  … Read more

Competition is fierce and many businesses are fighting a daily battle to keep their doors open. For many small businesses, staying afloat in this economy is proving to be an uphill battle. Unfortunately, many small businesses are finding themselves in over their heads in debt and creditors knocking at the door. Small businesses are at  … Read more

With the price of video games so high, it is a wonder why the companies are struggling financially. Recent news has surfaced about the fate of Team Bondi, the developer of a popular video game considering bankruptcy. The game L.A. Noire follows the adventures of a detective solving crimes and protecting citizens, a premise takes  … Read more

After filing for bankruptcy last year, Blockbuster has been able to be salvaged thanks to a buyout from Dish Network Corp.  The main incentive for Dish Network was obvious, to offer retail stores that sells their products as well. Dish Network has been looking for ways to compete with other internet streaming services and movie  … Read more

The economic struggles we are facing as a nation continue to wreak havoc, even among the entertainment industry. Two Dallas teams, the Dallas Stars and Texas Rangers, filed bankruptcy protection in the last year. Teams from all over the United States are seeking to protect the team assets and stay in operation to entertain fans.  … Read more

Filing for bankruptcy as a Limited Liability Corporation (LLC) may possess certain challenges than a typical bankruptcy case for other types of corporations. In Chapter 11 bankruptcy cases, the debts of the company are often repaid through a restructuring process. The business may obtain a new loan to stay in operation and allow creditors priority  … Read more

With technology advancing and pushing electronic book sales for devices like Kindle and Nook, bookstores are facing tough times ahead keeping their doors open. In February of this year, the second largest bookstore in the United States, Borders, announced it was filing for In April, Borders presented a debt restructuring plan to its creditors that  … Read more