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March 2014 Archives

Chapter 11 reorganization on the horizon for Quiznos

Competition among U.S. restaurants has been recently increasing as newer chains expand quickly in Ohio and across the country. In today's highly competitive restaurant industry, it takes very little for a business to face diminished cash flow, causing it to reconsider its operating strategy.

Chapter 11 business reorganization may give Sbarro a fresh start

Over the past several years, shopping malls have seen a decline in traffic that has severely hurt mall-based businesses. Sbarro, a familiar pizza restaurant in mall food courts around the country, is one of those businesses. Due to a decline in mall customers compared to the previous volume, Sbarro has filed for Chapter 11 business reorganization for the second time in just three years.  

Mortgage approval still possible after bankruptcy or foreclosure

Many people believe that filing bankruptcy is the end of the road for getting a credit card ever again, let alone being approved for a mortgage. But, actually it is a new beginning. Owning a home is still possible for Ohio residents after filing for bankruptcy, or even after a previous foreclosure.

Ohio city mayor prevents foreclosure

The prospect of facing foreclosure and losing your home can be traumatic. This reality faces many, including the mayor of Akron, Ohio, who had to deal with the possibility of foreclosure on his former home recently. The foreclosure action was filed by Wells Fargo bank on the property jointly owned by Akron Mayor Don Plusquellic and his former partner. Although his name was on the title, the mayor said he had no involvement with the property for four years. According to him, his ex-partner stopped paying the mortgage when she moved to Columbus, Ohio, unbeknownst to him. He claimed not to have received any notice from the bank. 

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