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Posts tagged "Business bankruptcy"

Bridal store in Ohio seeks bankruptcy after business debt mounts

Getting married is both exciting and stressful, as many married people in Ohio know well. There is the ceremony to plan, the dress to buy, the caterer to hire and more. When things go wrong and the dress fails to arrive on time, stress levels can sky rocket. That is what is happening to many in the state and around the country when a  bridal dress chain filed bankruptcy as a result of its business debt recently.

Business debt can come from many different situations

Economic problems can hit a business, regardless of the size of the company, at any time, as many business owners in Ohio know well. This is particularly true if an item that the company produces is found to be faulty or to have injured those who use it. This is what happened to a global company that caused it to accumulate business debt and to file a bankruptcy in, not one, but two countries.

Business debt lead to sports distributor's Chapter 11 filing

A sporting goods distributor that has several stores in Ohio -- some in Cincinnati -- has announced its recent filing for Chapter 11 bankruptcy. It announced that liquidation sales would immediately commence at all 68 its stores nationwide. This came after the company was unable to reach agreements related to business debt in out-of-court negotiations.

Business debt: The duties of a Chapter 11 bankruptcy trustee

When small business owners in Ohio go through difficult times, they may be looking at options to relieve the pressure and get back on track. Business debt can be overwhelming, and the appropriate step might be to seek professional advice. A Chapter 11 bankruptcy filing may be a suitable solution, and the business may be saved under the supervision of a court-appointed trustee.

Can small business bankruptcy prevent closing the doors?

Many small business owners in Ohio open their new ventures with high expectations of success. Unfortunately, unforeseen circumstances sometimes lead to financial difficulties that are insurmountable. While small business bankruptcy is an option, deciding which bankruptcy chapter would be the most appropriate filing can be challenging.

Steps can be taken to avoid bankruptcy by reducing business debt

Entrepreneurs in Ohio who established small businesses with great intentions and high hopes of success will naturally be devastated if financial difficulties become overwhelming. While their first inclination may be to file for bankruptcy to eliminate business debt, it may be best to first consider other available options. Important decisions are always better made once all the relative information is available and the pros and cons of each choice are carefully evaluated.

Small business owner warns about merchant cash advances

Business owners in Ohio may encounter unanticipated financial problems if they start a venture without a sizeable nest egg. It is not uncommon for business owners who encounter financial difficulties to be unable to keep up with scheduled payments. This may cause severe cash flow problems. If a small business owner is unable to settle debts, he or she may fall into the trap of a merchant cash advance that can cripple the business in no time at all.

Bankruptcy is more beneficial than what myths make it out to be

Ohio consumers who are burdened with unmanageable debt may be exploring remedies to relieve the stress of creditor harassment and other actions. Knowledge is power, and consulting with an experienced bankruptcy attorney may provide the information necessary to make informed decisions. A lawyer may also dispel some of the myths about bankruptcy.

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