In an attempt to restructure under a business bankruptcy the Doral Golf Resort & Spa in Florida is being put up for sale. According to the filing, the owners hope to hold on to one of the five Doral courses, and expect it to take several months for the other four courses to sell.
Personal bankruptcy is a debt relief tool to let people to discharge debt in order to restart and rebuild financially for the future. However, over the years a number of myths have surfaced regarding the consequences of filing for bankruptcy, and some of these myths may even be stopping a person from filing when it really is needed.
Freeman's Men Shop, a privately owned men's retail shop with two locations, recently filed for Chapter 7 bankruptcy. Both of the shops are now closed, which some industry experts say is a growing trend after the recession as more consumers shop at large department stores instead of locally owned independent stores.
A once-fast paced homebuilder that started his company in 1956 and over the years has expanded to eight different states - including Florida - recently had to file for Chapter 7 bankruptcy protection. Like many homebuilders over the past few years, business was expanding several years ago, but due to the recent housing crash, Pasquinelli Homebuilding LLC just wasn't able to profitably continue to operate.
As reported earlier this month, Florida is the fourth most economically stressed state in the nation. And while the U.S. Bankruptcy Middle Court District of the state saw a decrease in personal and business bankruptcy filings during the first quarter of 2011, some experts are saying that the lower number represents just a temporary pause and that overall the number of filings for the year will be even higher than the record-breaking number of filings in 2010.
Yacht maker Post Marine Co. Inc., which had been building yachts since 1957, recently filed for bankruptcy. Under this Chapter 7 bankruptcy filing the company will liquidate its assets to pay its creditors.
A Chapter 7 bankruptcy petition was recently filed for The Devlin Group Inc., which is a well-known residential and commercial real estate developer in Florida. The company was involved in numerous projects throughout the state.
The Florida bank parent company, Sterling Bancgroup, filed for Chapter 7 bankruptcy earlier this month at a U.S. Bankruptcy Court in Fort Lauderdale, Florida.
When it comes to owning a business, many times owners put their own personal finances on the line thinking that the investment now will be worth it financially in the end. However, sometimes the business ends up not doing as well as one had hoped, and that same owner finds filing for a personal bankruptcy may be the only option in terms of getting out of mounting debt.
Due to two separate lawsuits and a change in how professors teach classes, a Florida company that sold student created study guides has filed for bankruptcy.