rafiki Posted November 18, 2009 Share Posted November 18, 2009 . Quote Link to comment Share on other sites More sharing options...
G5052 Posted November 18, 2009 Share Posted November 18, 2009 It basically gives them time to try to restructure and pay their bills under court supervision. Sometimes that does mean layoffs and some level of operations change, but technically they're still "in business" and trying to survive. Some businesses successfully come out of Chapter 11, negotiate/pay off their bills, and go back to being solvent, but some don't. If you hear that they've gone Chapter 7, they're closing down and liquidating. Quote Link to comment Share on other sites More sharing options...
rafiki Posted November 18, 2009 Author Share Posted November 18, 2009 . Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.