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Bankruptcy May Be Your Option

November 2016 Archives

Owner of multiple McDonald's franchises files for bankruptcy

Those who own businesses in Oklahoma are often forced to make difficult financial decisions in order to increase their chances of success. Even a well-researched decision can result in complications due to unforeseen circumstances such as government regulations or an unexpected increase in competition. A company in another state is likely all too familiar with this possibility after the multiple McDonald's franchises it owns failed to make the projected amount of profit. To cope with the debt, Brown Customer Delight Group Inc., also known as BCDG, filed for bankruptcy protection.

E-commerce business seeks business reorganization

Changing technologies have impacted how many companies are built and marketed. Many businesses in Oklahoma and across the country, for example, rely on social media for marketing and the expansion of their customer base. While this can be wildly effective, one company built through social media has recently announced its intention to go through business reorganization. Because of the rapid growth of the company, Nasty Gal, many people were surprised by the announcement that the company filed for bankruptcy protection.

Helicopter company seeks bankruptcy protection

Millions of consumers in Oklahoma and all sections of the country have likely enjoyed lower gas prices. While this may help reduce the costs of their commute, it has left many companies tied to the energy industry struggling financially. One such company, Erickson, has recently followed the path of other companies by filing for bankruptcy.

Chapter 7 filing halts sheriff's auction

Many businesses in Oklahoma and across the country find themselves struggling financially in today's economy. Despite their best efforts, it becomes difficult to meet their financial obligations for a variety of different reasons. In some situations, a business faces the auction of its property. There are still options, however, to protect assets. A Chapter 7 bankruptcy filing can stop an auction, giving business owners time to seek a buyer.

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