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Chapter 7 Archives

Company withdraws 2 IPOs before filing Chapter 7 bankruptcy

The economy makes a difference in decisions for many businesses. For some businesses in Texas and elsewhere, making certain business moves is dependent upon strong economic conditions. One technology company found this out to be the case when it decided to reverse its decision to move forward with two separate initial public offering efforts. Now, the company, GlassHouse Technologies, has decided to file a Chapter 7 bankruptcy.

Trucking company files for Chapter 7 bankruptcy

Having liquidity is usually important in order for a company to maintain business operations. Without cash, many businesses in Texas and in other states may not be able to pay for the labor and supplies necessary to continue operating. This is what happened to one trucking company, which resulted in the business being forced to file for a Chapter 7 bankruptcy.

Engineering firm files for Chapter 7 bankruptcy

In Texas, bankruptcy offers an opportunity for a business in financial duress to responsibly close the company, thus allowing its owners to move on to other investment opportunities while leaving the financial problems of the former company behind. One company in another state has filed for Chapter 7 bankruptcy for this very reason. The civil engineering firm known as Lakeshore TolTest lost lucrative foreign defense contracts and was also involved in a corruption scandal.

Toy company files Chapter 7 bankruptcy

Toys have played a significant role in just about every child's life. However, making toys is a business just like any other industry in Texas and elsewhere. This means that a toy company can find itself facing financial hardship that could force it to go out of business. Toymaker Summit Products LLC found this out the hard way and has recently filed for Chapter 7 bankruptcy.

Eddie Montgomery files for Chapter 7 bankruptcy

Even famous people may find themselves in financial trouble if they are not careful. Country western star Eddie Montgomery found himself in this type of situation recently, which forced him to file a Chapter 7 bankruptcy. Most people in Texas will remember the singer as a part of the award-winning musical duo, Montgomery Gentry.

Creditors of airline petition for involuntary Chapter 7

Everybody needs to be careful when taking on debts. This also applies to businesses in Texas or any other state that take on debt in order to pay for operating expenses and other necessary costs. If a company takes on too much debt without earning enough revenue to pay its bills, the company may find itself in serious financial problems. One airline company seems to have found itself in this situation and may be forced to file Chapter 7 bankruptcy even though the company does not wish to end its business.

Luxury Tec LLC files Chapter 7 bankruptcy

The manufacturing sector in the United States has been weak for quite a long time now. Although there has reportedly been some economic recovery by certain measures, many manufacturing businesses in Texas and other states have still been feeling the aftereffects of the recent recession. In some instances, many have been forced to close up shop due to a still weak economy. This may have been the case with one mirror manufacturing company which is now filing for Chapter 7 bankruptcy.

Mobclix files Chapter 7 bankruptcy

The free market provides many opportunities for enterprising businesses to earn a healthy profit when they make smart decisions. However, the free market may also allow for a company to find itself in financial difficulties if the company does not make the right business choices in Texas or in any other state. One company seems to have found itself in this situation and recently filed for Chapter 7 bankruptcy.

Sunland files Chapter 7 bankruptcy following product recall

In business there are various hurdles which a company could face that may be financially detrimental to the company. Many companies in Texas and other states are able to weather the storm, however many are just not able to recover from a significant financial hardship. This seems to be what had happened to Sunland, Inc. After a product recall and a forced shutdown of its plant, the company is now filing for Chapter 7 bankruptcy.

Sushi restaurant files for Chapter 7 bankruptcy

Running a restaurant is not an easy endeavor. It is an unpredictable industry where many operators are forced out of business for a variety of reasons. For some struggling restaurants filing a Chapter 7 bankruptcy may be the best option in Texas or in any other state. This seems to have been the case for Shin's Sushi Bar which recently filed its bankruptcy petition in early September.


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