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September 2015 Archives

Air maintenance company files for Chapter 7

A company that maintains aircraft at an international airport has filed for bankruptcy in its home state, according to international business news. MidAir USA is based in a northern state, but has historically worked predominantly with air services, providing maintenance for their large commercial aircraft. The Chapter 7 filing, as some Tennessee business owners already know, means the company will address its debts through liquidation of assets. 

Effectively handling credit card debt

Of all the types of debt facing American families, by far the most challenging to combat is outstanding credit card balances. Credit card debt is climbing in Tennessee, and some experts have suggested several ways families can handle these financial obligations. From financial planning to balance transfers to Chapter 7 bankruptcy, there are several options available. 

Oil company files for Chapter 7 bankruptcy

The U.S. Bankrutpcy docket recorded the filing of a bankruptcy petition by Armada Oil, an out-of-state oil development company. Tennessee residents with an interest in the oil industry are aware of the precarious nature of the industry at this time, which means it might come as little surprise that the company's leadership made the decision to file for Chapter 7 bankruptcy. The case is currently being overseen by a court local to the business. 

Chapter 7 bankruptcy filing closes Capital Door

A company once known as the fastest-growing supplier of custom commercial and industrial doors has reportedly closed its own doors recently. Capital Door Systems was a power player in their area, but a Chapter 7 bankruptcy filing has shut down operations. A bankruptcy trustee will facilitate the process moving forward. Tennessee business owners understand how vital it can be to file for bankruptcy when the time is right to ensure debt does not overcome company ownership.

Insulation manufacturer files for Chapter 7

Regal Industries, best known for producing cellulose insulation, has closed its doors for good according to business news. The company filed for Chapter 7 bankruptcy around Aug. 26, the company's ownership has announced. As Tennessee manufacturers are aware, the burst housing bubble was tough on manufacturers in the housing industry, which is one of the reasons cited for the closure. 

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