Quote:
Originally Posted by HarryT
Why not? Applying for Chapter 11 protection doesn't mean stopping business. In fact, it means precisely the opposite - continuing business while you look for a solution to your financial issues.
If textbooks are the problem, perhaps the answer is to sell off or shut down the textbook business.
|
Usually by not having to pay your vendors the money you owe them.
Zales declared Chapter 11 in the early '90s and was forgiven the millions it owed Town and Country. And they got to keep the merchandise they did not pay for.
Town and Country went out of business because of this. Zales is still around and has declared Bankruptcy more than once.
Apache