A Comfort Inn in Tampa, Florida, was recently added to a growing list of Chapter 11 bankruptcy filings by a family-owned business. In this most recent filing, the hotel lists assets between $1 million and $10 million and liabilities between $10 million and $50 million.
With the recession and all of the lay-offs that came with it, many individuals and families have found themselves not traveling and taking vacations as much as they used to. Now, instead of taking that summer trip to Disney World in Orlando, Florida, more are now deciding to either scrap the trip all together or maybe go somewhere that would be less expensive.
With a downed economy and not as many people going on vacation, some industries are having a tough time financially. However, filing for bankruptcy can give many businesses a second chance.