| Re: bankruptcy news
I'm editing this so I don't sound rude...
In our district alone, there have been numerous filings over the past six months - Lillian Vernon, Linens N' Things, Skybus, Delta Financial Corporation, Holley Performance Products, American LaFrance (they make firetrucks) - on and on. (I found a firm that provides a list as opposed to my trying to get onto the Court's website and incurring all kinds of fees to collect the list for you - the link is posted below).
We're averaging one big company every two - three weeks.
Some, like Holley, are pre-packaged deals that come in and out of bankruptcy in 45 days and do not affect their creditors or company operations.
Others, like Hechinger are liquidations that go on for nine years.
I guess my point to Mark was that it's no shock that these things happen - they happen all year long throughout good and bad economic times. As I stated earlier, a lot of these filings are reorganizations and the company doesn't go out of business, continues to operate and goes on (think Fruit of the Loom and KMart). Others do mean closures and shut downs (think Hechinger).
*shrugs*
Again, just because a company has filed bankruptcy does not mean they are going out of business. And bankruptcy filings are actually pretty commonplace in the corporate world. And it's all public knowledge. The minute the petition is filed, anyone can walk into the Bankruptcy Court at 824 Market Street and look up the information on the terminals there.
Perhaps I'm just jaded. After all, this is what I do for a living.
Last edited by witchofthedogs; 05-08-2008 at 08:00 PM..
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