The shipping company, Genco, plans to file for bankruptcy by the end of March. The company operates ships that transport grain, coal, iron ore and soybeans. The Chapter 11 filing will be completed in order to protect the company from a $50 million debt obligation that...
Month: March 2014
Quiznos enters Chapter 11 bankruptcy proceedings
When a New Jersey corporation enters business bankruptcy proceedings, it does not mean the end of the world for the company. In fact, in many cases, business bankruptcy can represent an extremely positive new beginning. Quiznos, the world-famous fast food sandwich...
International pizza chain enters Chapter 11 process
A pizza restaurant chain, which many New Jersey residents know from area malls, has recently entered Chapter 11 proceedings. The Chapter 11 commercial bankruptcy represents the second time that the pizza restaurant has initiated the bankruptcy process in the last...
Personal bankruptcy statistics and the recession
In recent years, the recession in the United States has been particularly tough on consumers and businesses alike. In fact, times have been so difficult that 23 percent of American households thought about filing for personal bankruptcy in recent years. Further, 18...