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Posts tagged "Chapter 11"

Sun Capital Partners files for Chapter 11 bankruptcy

On Nov. 4, Florida-based Sun Capital Partners filed in the U.S. Bankruptcy court for Chapter 11 bankruptcy protection. Sun Capital Partners is a private equity firm based in Fort Walton that purchased Edwin Watts Golf Shops in 2007. It is hoped that the shops will continue to operate until the Chapter 11 proceeding is concluded. To that end, the company secured a loan from PNC Bank in the amount of $38 million.

Taverna Opa restaurant files for bankruptcy

A restaurant in Dolphin Mall filed for bankruptcy, although the restaurant continues to operate. Taverna Opa sought the debt relief protections of the Chapter 11 bankruptcy option. The restaurant is owned by Opa Restaurant Group, which has several restaurants throughout Florida.

Tomato shipping business in Florida files for Chapter 11

Apparently in hopes of continuing operations, East Coast Brokers & Packers have filed for Chapter 11 bankruptcy protection in the Florida courts. Besides being in the tomato shipping business, the owners of the packing company also own a hotel that has been closed for the last ten months.

"Life of Pi" visual effects company plans to file for bankruptcy

It was reported earlier this week that Rhythm & Hues Studios, the visual effects company nominated for two Oscars for "Life of Pi" and "Snow White & The Huntsman," plans to file for Chapter 11 bankruptcy.

School supply company files for Chapter 11 bankruptcy

With the recession and cuts in public spending, many schools around the country ended up being impacted. For many districts the state budget cuts led to school boards having to delay adopting new curriculum guidelines and put off spending money on any instructional materials that would have met those new guidelines. This in turn ended up affecting School Specialty Inc., the company that supplies about 70 percent of the schools in the U.S. with school supplies.

Shoe store seeks conversion from Chapter 11 to Chapter 7

It does not matter how long a company has been in business: No business is immune to financial difficulties. For the owners, this of course can become quite stressful, especially in situations where the business has been in the family's name for quite some time.

Floridians considering bankruptcy filing? Atari does it

Understanding the benefits and risks of owning a business is something Florida residents who do so likely are all too familiar with. As good as the intentions may be, there are some times when the need for bankruptcy protection comes up for business owners, however. One company that Florida residents have likely heard of is the gaming company Atari Inc. What they may not have gotten wind of, though, is that even this company is affected by the strains and whims of the economy.

Florida business files for Chapter 11 after credit cut off

In many cases businesses have to rely on credit to survive. This is why when credit is denied -- or suddenly taken away -- a business can end up in a tough financial situation unable to continue to operate the same way.

Solar panel maker files for bankruptcy 2 years after closing

When talking about filing for bankruptcy, many incorrectly assume that the filing must come while the company is still in business. And while it is true that filing for bankruptcy while still in business can do a lot in terms of possibly saving the business, there are cases where a business files after it has already shut down.

Hostess to close after filing for bankruptcy

Back in January we posted about Hostess Brands Inc. filing for Chapter 11 bankruptcy. The hope was this restructuring would allow the company to figure out a way to pay off its creditors and once again be a profitable business.

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