It was reported earlier this week that Rhythm & Hues Studios, the visual effects company nominated for two Oscars for "Life of Pi" and "Snow White & The Huntsman," plans to file for Chapter 11 bankruptcy.
With the recession and cuts in public spending, many schools around the country ended up being impacted. For many districts the state budget cuts led to school boards having to delay adopting new curriculum guidelines and put off spending money on any instructional materials that would have met those new guidelines. This in turn ended up affecting School Specialty Inc., the company that supplies about 70 percent of the schools in the U.S. with school supplies.
It does not matter how long a company has been in business: No business is immune to financial difficulties. For the owners, this of course can become quite stressful, especially in situations where the business has been in the family's name for quite some time.
Since the recession and housing collapse in 2007, many individuals and businesses in Florida have continued to struggle. Not only have many lost their homes to foreclosure, but many with ties to real estate have ended up filing for bankruptcy.
Even when a business is successful in terms of customers or members, the business may still be facing serious financial struggles. Many times, this can lead to a seemingly booming business closing its doors and filing for bankruptcy.
With tomorrow marking the first day of 2013, some wonder what the next year will look like in terms of bankruptcies among brands. Who will make it and who will not are some of the common questions consumers have going into the new year.
In many cases businesses have to rely on credit to survive. This is why when credit is denied -- or suddenly taken away -- a business can end up in a tough financial situation unable to continue to operate the same way.
When talking about filing for bankruptcy, many incorrectly assume that the filing must come while the company is still in business. And while it is true that filing for bankruptcy while still in business can do a lot in terms of possibly saving the business, there are cases where a business files after it has already shut down.
Back in January we posted about Hostess Brands Inc. filing for Chapter 11 bankruptcy. The hope was this restructuring would allow the company to figure out a way to pay off its creditors and once again be a profitable business.
One of the home building companies approved to work in Lakewood Ranch in Florida recently filed for bankruptcy. This move has left many wondering just what will happen to the roughly 30 homes the company has already sold but has yet to complete. Of those sold, construction has reportedly not even started on 18 of the homes.