30
Apr
The week in bankruptcies: Day spa files for Chapter 7
Portland area bankruptcy courts recorded one business filing – including zero with total debt above $1 million — during the week that ended April 24. Year to date through April 24, the court recorded 15 Chapter 7 or Chapter 11 business bankruptcy filings, a 50 percent increase from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its…
Source: Arizona Business Journal
