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Posts tagged 'Chapter 11 bankruptcy'
Written by: Timothy McFarlin | Publish date: April 25th, 2011
American Apparel is a popular apparel company based in Los Angeles, California. The retail-clothing distributor currently employs approximately 10,000 people globally, 5,000 of which are in Los Angeles. American Apparel operates more than 285 retail stores in 20 countries. They announced last week that in an effort to avoid declaring Chapter 11 bankruptcy, they are scrambling to secure $10 million to pay off their creditors. However, coming up with the funds would not alleviate all of the company’s financial problems. Sales have fallen 5 percent in the last year, costing the company more than $86 million, and several investors. American [...]
Written by: Christopher Gordon | Publish date: October 6th, 2010
Recently in Fort Wayne, Indiana Audio Visual Integration, Inc., has filed for Chapter 11 bankruptcy protection. The company expects, according to its reorganization plans and President, Anthony Kohrman, to rejuvenate itself and lift itself from bankruptcy by the end of this year. Roughly six years ago, AVI was noted as the “Small Business of the Year,” and was hailed as such by the Greater Fort Wayne Chamber of Commerce at a Business Expo gathering. Papers filed with the Fort Wayne US Bankruptcy Court division indicate the company has amassed over $1.3 million in debt; with only seven employees, AV’s assets [...]
Written by: Christopher Gordon | Publish date: September 14th, 2010
In Bristol Township, Pennsylvania, it was recently announced a US Bankruptcy judge will reside over a hearing, to determine whether or not Lower Bucks Hospital is worthy of an extension to present its reorganization plan to creditors. Judge Eric Frank has extended the filing from August 12th to the 31st; as well, he prolonged the window of time the hospital can present its reorganization plan to October 29th…and even this time may be extended as well. Judge Frank additionally set an August 27th date to listen to Lower Bucks Hospital’s plea to extend its deadlines for filing its plan while [...]
Written by: Christopher Gordon | Publish date: September 9th, 2010
Snowflake White Mountain Power, LLC, a biomass power plant in Arizona, recently filed for Chapter 11 bankruptcy protection in effort to avoid having its contract put to rest by the Salt River Project. The bankruptcy follows some long months of back-and-forth debates between Snowflake White Mountain Power and Salt River Project over both renegotiated agreements and the financially downtrodden history of the power plant itself. In documents filed with the US Bankruptcy Court, Snowflake White Mountain Power claims it’s roughly $50-$100 million in debt. At the beginning of last year, the Arizona plant’s original owner, Renegy Holdings, Inc., was given [...]
