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Business & Commercial Bankruptcy Archives

City shows how bankruptcy can lead to better financial outcomes

When most people think of bankruptcy, images of struggling families, foreclosures and small businesses closing down are conjured up. While this is sometimes the case, financial problems are more widespread than that. Even big companies and whole cities are not immune from overwhelming debt.

Several restaurant chains file for Chapter 11 protection

Several restaurant chains have filed for Chapter 11 bankruptcy protection recently including Quiznos, a restaurant chain that specializes in toasted subs. Quiznos’ bankruptcy protection filing comes less than one week after Sbarro, another restaurant chain, did the same. Quiznos once had more than 5,000 independently-owned stores, but the number of stores has dwindled to 2,100. Because all but seven of the stores are independently-owned and operated franchises, no store closings are expected during the bankruptcy process. According to Quiznos’ website, there are three stores located in New Hampshire.

Bankruptcy filings in New Hampshire dip in February

There are a lot of different reasons why an individual or business will seek bankruptcy protection. While debt is obviously the basis of a bankruptcy filing, there are a lot of different factors that may have contributed or caused the debt.

Quiznos subs is sinking, in need of bankruptcy help

Just as many people have their pizza place of choice, they also have their sandwich place of choice. Are you a Subway, Jimmy John's or Blimpie sandwich lover? If you are by chance on "Team Quiznos," your sub place of choice might need your service more than ever.

Business bankruptcy filed over loss of $500M in virtual currency

Protecting consumers’ personal data has always been a major concern for businesses, but the advent of cyber information, cloud data storage and other related technology has heightened this concern. Online security breaches from unscrupulous hackers is a constant worry for a lot of business owners, and it is one that recently became very real for MtGox, a major exchange site for the virtual currency known as the Bitcoin.

Online stores may be driving long-standing stores to bankruptcy

It virtually goes without saying that businesses without an online presence may not last long. New Hampshire shoppers are increasingly buying things online; from clothes to books to food to toys, online shopping can save time and money. This is good news for stores that have an online presence, but for those brick-and-mortar stores who just don't have the ability to sell merchandise online, business bankruptcy may be on the horizon.

Negative amortization, and how it effects people and businesses

Have you ever heard of "negative amortization?" The term refers to debt that increases faster than you can pay it off. Usually negative amortization occurs because the interest on a loan or some credit exceeds the minimum payment that the in-debt person is making. But ever since 2003 -- when financial rules were changed to force lenders to make their minimum payments at a level that would pay off the debt "over a reasonable period of time" -- negative amortization has become increasingly rare.

Bankrupt business owners have a few choices at their disposal

It doesn't matter where you are located -- businesses go bankrupt all the time. Companies that are big or small; firms that are international in scope or are simply a local small business; and organizations that have an extensive footprint on their industry, or are merely just getting started; all of these entities, and every company inbetween, could go bankrupt. It's the nature of business.

Start Your Case Today

Whether you have a family law issue, an estate planning question or are considering bankruptcy, I can help you find a sustainable solution that provides relief and hope. Schedule your consultation at my Nashua, New Hampshire office today by calling 603-635-4149 or by sending us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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