New Southern Season owner will continue brand’s legacy

A December 1 article of Triangle Business Journal said the company that recently acquired the Southern Season store in Chapel Hill, North Carolina will continue to use the brand known and appreciated by patrons.

Calvert Retail CEO Eric Brinsfield confirmed they will continue operating Southern Season and will add products to further improve the business its patrons know and love. Brinsfield reportedly traveled to North Carolina several times so he could become acquainted with the business. Calvert Retail acquired Southern Season for $3.5 million in August after it sought bankruptcy protection in June. Patrons of the gourmet retailer in Chapel Hill should expect to be delighted by additional products offered by the company. Bankruptcy documents revealed that Southern Season had over $18 million worth of liabilities.

In Fayetteville, the attorneys at the Bradford Law Offices, PLLC understand that many businesses struggle from hefty debts. However, if you have fallen into serious financial troubles, we can work on your behalf if you decide to file for bankruptcy protection. Call us today at (919) 758-8879 to find out how we could help you with your situation.

Struggling Aéropostale expected to complete Chapter 11 Bankruptcy

American teen clothing company Aéropostale is expected to exit from Chapter 11 Bankruptcy, giving them a possibility to improve their business, an article of Fortune reported on September 13.

Reports said Aéropostale will continue to operate with 229 outlets after a federal judge gave them a go signal to maintain 7,000 employees and continue operations. The struggling clothing company filed for bankruptcy in May. Landlords Simon Property Group and General Growth Properties made a $243 million bid to save most of the stores from being liquidated. Though Aéropostale was given a relief in the process with much smaller operations, they will need to adjust to their direct competitors who have established their names in the clothing industry.

Chapter 11 Bankruptcy, fortunately, is a viable option for entrepreneurs who want to improve their financial footing. If you are in such situation, we may be able to offer you legal options so you can recover from your burden. Find out how the attorneys at the Bradford Law Offices, PLLC may advocate on your behalf today by calling (919) 758-8879.

A Southern Season in NC seeking bankruptcy protection

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.

Gawker Media Group sought bankruptcy protection

Well-known online gossip media company, Gawker Media Group sought bankruptcy protection on June 10 and part of the plan is to sell the company to possibly lessen income loss from a multi-million lawsuit filed by wrestling legend Hulk Hogan, The Washington Post reported.

According to reports, Gawker will continue their operations and appealed the $140.1 million judgment in March from the “privacy invasion” case filed by the wrestler in 2012. Hogan, whose real name is Terry Bollea, apparently won the case after he was financially supported by tech magnate Peter Thiel. Thiel reportedly admitted to supporting Hogan after a website owned by Gawker publicized him being gay. While filing bankruptcy, the legal counsel representing Gawker told reports they may contest a court’s order of having to settle a bond worth $50 million.

Filing for Chapter 11 Bankruptcy, fortunately, is worth considering for business owners who are stuck with overwhelming financial obligations from creditors. If you are in a similar situation in Fayetteville, the Bradford Law Offices, PLLC legal team may tirelessly work for you. Learn more about your legal options from us today by calling (919) 758-8879.

Chemical firm Vertellus Specialties files for Chapter 11 bankruptcy protection

Due to stiff marketing competition and “macroeconomic challenges,” Vertellus Specialties Inc., a novelty chemical company, recently filed for Chapter 11 Bankruptcy, an article of Indianapolis Business Journal reported on June 6.

The Indianapolis-based company, which has five facilities in other states, is well-known for their chemicals that are used in other industries and consumer products. In its bankruptcy documents filed recently, Vertellus has listed its liabilities between $500 million and $1 billion, while their assets range from $100 million to $500 million. Private equity company Wind Point Partners will likely sell Vertellus to a Delaware-based corporation, Valencia Bidco LLC, as part of the deal. Interested parties are given a deadline of August 15 to submit their bids. 

At the Bradford Law Offices, PLLC in Fayetteville, our team represents business owners who have decided to file for Chapter 11 bankruptcy. We may be able to work on your behalf to help you receive the best deal possible in your filing. Call our office at (919) 758-8879 to learn more about your legal options.

Brand apparel retailer sought bankruptcy protection

A Chapter 11 bankruptcy was recently filed by California-based company Pacific Sunwear after experiencing income losses for several years, an article of CBS News reported on April 8.

According to reports, the novelty apparel retailer has been affected by socio-economic factors like some of their competitors. Pacific Sunwear sought bankruptcy protection, hoping to continue business by working with a private lending company. Company CEO Gary Schoenfeld stated that the filing will help them cover approximately $140 million annual occupancy cost and long-term debt amounting to $90 million. The lending company, on the other hand, will shell out $20 million and convert Pacific Sunwear’s two-thirds of debt into equity. Pacific Sunwear currently has over 600 stores in 50 states including in Raleigh, North Carolina.

Like many national companies, the lawyers of the Bradford Law Offices, PLLC understand that some businesses in Fayetteville are dealing with financial issues. If you believe you are in this frustrating situation, we may offer you legal assistance if you have decided to file for bankruptcy. Call our office today at (919) 758-8879 to find out how we may possibly help you regain your financial footing.