Tag Archives: Bankruptcy

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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What Is an Emergency Bankruptcy Filing and Should I Consider It?

Sometimes it is necessary to act quickly when filing for bankruptcy. This could be true if you need the protection of an automatic stay right away or if, for some other reason, you cannot wait to complete the majority of the bankruptcy forms. If this sounds like you, then you can file a bare-bones emergency bankruptcy form and file the rest later. Is It a Good Idea to File an Emergency Bankruptcy? In most circumstances, no; not if you can help it. Bankruptcy is a complicated process. It involves a lot of paperwork and for a bankruptcy to go through, you have to honestly disclose all assets, income, expenses and more. The process has strict timelines and steps that you must take in order for your bankruptcy to take effect. Because of how strict the process is, acting hastily is not always the best course of action. You need some…
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Bridal Giant Alfred Angelo Files for Bankruptcy

Recently, the dressmaker Alfred Angelo announced that it was filing for Chapter 7 bankruptcy, shutting down about 60 stores and leaving independent bridal shops with no information as to whether dresses ordered from Alfred Angelo would arrive in time for summer and fall weddings. Naturally, the uproar has been intense. What is a bride to do when her dress is floating in financial limbo thanks to the dressmaker going out of business? How to Keep Your Cool During the Alfred Angelo Bankruptcy Fiasco First things first: keep in contact with the company. If you have ordered a dress either from Alfred Angelo, contact the bankruptcy representative. That would be Margaret Smith at alfredangelo@mjstrustee.com. Send her details of your wedding date, what you ordered and how much you paid. Also include your order number, the name as it appears on your order and where you made the purchase. The company promised…
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