New York Corporate Bankruptcy Law Blog
What we can learn from the fate of retailer Brooks Brothers
Like many businesses in the last several months, Manhattan’s Brooks Brothers was hit hard by the effects of the COVID-19 pandemic. However, even before the virus came into the picture, the 202-year-old elite fashion retailer whose suits adorned many U.S. presidents...
Bankruptcies in New York have increased by 40%
In recent months, thousands of businesses have struggled to stay afloat. Many have enacted cost-cutting measures like reducing salaries, furloughing employees and cutting expenditures. For some companies, these solutions are enough to keep them operating for one more...
How does mediation work for Chapter 11 bankruptcy?
As your corporation prepares for Chapter 11 bankruptcy, making it viable again will be a high priority. The team you’re working with to steer it through proceedings may be competent. But you may still worry that the terms agreed upon during your hearings could cause...
How can bankruptcy help a company?
Contrary to what consumers may think, filing for bankruptcy does not necessarily mean a corporation will shut down. In fact, filing for Chapter 11 bankruptcy can do the opposite—it can keep the business afloat through debt reorganization. Of course, large corporations...
When is filing Chapter 11 is the right business decision?
The clothing retailer, True Religion Apparel Inc, filed Chapter 11 this April after lengthy store closures hurt its business. This filing is the second time the company filed Chapter 11 in three years. Though the company will maintain its e-commerce business, its CEO...
Takeaways from a roundup of retail bankruptcies in 2019
Mega Chapter 11 bankruptcy can play out in numerous ways, as is evident in CNBC’s report on 2019 retail bankruptcies. 2019 was a big year for Chapter 11 filings, particularly for apparel companies. In total, there were 23 major retail bankruptcies, which is up from 17...
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