Guillermo Perales, the owner of nearly 50 Golden Corral locations across six states, put four of his companies into bankruptcy. Perales filed for Chapter 11 bankruptcy protection last week in Fort Worth.

Perales' company, CG Management LLC, had revenues of $186.2 million in 2006 but has very thin margins. In an assualt law suit against one of Perales' other companies, a woman was awarded $1 million in damages. However, the joint companies cannot afford to pay the award without shutting down, driving Perales to file.

If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.

Music distributor CBuJ Entertainment has filed for Chapter 7 bankruptcy as of Friday, July 17. The company lists assets of under $70,000 and liabilities of about $1.4 million.

Among the company's creditors are Regions Bank and Bank of America. The company, formed in 2003, was announced shut down on Friday. Shortly before the filing, the company employed less than 6 people.

If you are considering bankruptcy, contact the Galveston bankruptcy attorneys of Gipson, Norman & Root at 409-765-6000.