A Southern Season in NC seeking bankruptcy protection
Posted on Friday, July 1st, 2016 at 2:42 pm
A Southern Season in Chapel Hill, North Carolina recently filed for Chapter 11 bankruptcy after suffering financial losses, an article of The News & Observer reported on June 24. The company is using bankruptcy proceedings to evaluate their finances and reinvent their business.
Reports indicate that although the company sought bankruptcy protection, they will continue operation at some locations, including the Chapel Hill flagship store. Aside from addressing their financial woes, A Southern Season plans to stop the construction plans of bigger stores that will likely fail to generate enough revenue to sustain the business. Brian Fauver, the company’s chief financial officer, explained “With these big stores come liabilities that are not part of our go-forward plan.” The company is expecting to emerge from bankruptcy proceedings this December.
The team at the Bradford Law Offices, PLLC represent Fayetteville business owners who have decided to file for bankruptcy. We strongly believe that entrepreneurs should be given a second chance if their finances fall through. Discuss your situation with us today by calling (919) 758-8879 to learn more about your options.