Monthly Archives: October 2017

After Sex Assault Scandal, Will The Weinstein Company File for Bankruptcy?

Will the sexual assault scandal simmering at The Weinstein Company lead to bankruptcy? Not according to Bob Weinstein, but other signs indicate it might happen. According to Variety, the company’s leadership is torn on whether to reorganize in the face of potential bankruptcy. Some members wish to sell the company. Others are concerned that the explosive allegations against Harvey Weinstein could lead to massive liabilities when all potential sex assault and harassment lawsuits are said and done. Still, others worry that the name of the company has been irreversibly tarnished, which will affect its ability to move forward with new projects. And according to TMZ, company leaders are concerned that they might not be able to get rid of Harvey Weinstein. Despite having already fired him, his contract stipulates that he is entitled to mediation followed by arbitration before he is allowed to be fired. His continued employment, if it…
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How to Rebuild Credit and Get Loans after Bankruptcy

Credit is somewhat of an ironic thing. The best way to get it is if you already have it. If you don’t have it, it can be difficult to obtain. Bad credit begets bad credit, which makes it harder to get loans, and the ones you do get can have expensive payments, leading to you falling behind on payments, leading to – you guessed it – worse credit. It is a black hole that can suck you in if you are not attentive to it, and like black holes, it can be impossible to pull yourself out once you’re in too deep. Bankruptcy can make a bad credit problem worse – for a long while. So, how does one dig themselves out of a credit pit after exiting bankruptcy? Start small. Credit cards are an excellent way to rebuild credit long-term, as long as you know how to be responsible…
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Bankruptcy Success Stories: Gymboree and More

Gymboree Group Inc., the owner of children’s clothing chain Gymboree, recently announced it was emerging successfully from Chapter 11 bankruptcy. Earlier this year, Gymboree downsized the number of stores it has, shedding just under 350. It entered into bankruptcy with a plan, was approved by creditors and is now on track to begin repaying its debts. Now, the company must maintain market share and profitability in an increasingly competitive retail environment. Business Bankruptcy Success Stories Some companies, upon filing for bankruptcy, simply fade away into the annals of failed business history. But bankruptcy can be a very valuable tool to help a business owner preserve the company. Here are some examples of successful business bankruptcies and where they are now. American Airlines filed for bankruptcy, as many major airliners have at one point or another, in 2011. Three years later, American finished a merger with U.S. Airways Group to form…
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