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January 2016 Archives

Popular BBQ restaurant shifts to Chapter 7 bankruptcy

The owners of a popular bar and grill had intended to reopen their business after filing for Chapter 11 bankruptcy, but they have decided against it, according to local sources. Ownership at Blues BBQ & Grill has said they are "better off calling it quits" and have chosen to convert their initial filing to a Chapter 7 bankruptcy. While the Chapter 11 would have allowed the company to remain in operation while they restructured their debts, Tennessee business owners know that a Chapter 7 will initiate a dissolution of company assets to pay down creditors. 

HealthSpot files for Chapter 7 bankruptcy

Only two weeks after ceasing operations, a popular startup specializing in telemedicine kiosks designed to connect people with their doctors has filed for bankruptcy. HealthSpot, Inc. may be known to Tennessee health care professionals as what was originally touted as a "billion-dollar idea." Sadly, the company filed for Chapter 7 bankruptcy on Jan. 13. 

Dealing with leftover credit card debt

It is fair to say that most Americans overspend during the holidays. Tennessee residents will agree that building up credit card debt is very easy when purchasing gifts for loved ones. However, this can leave individuals and families in precarious financial positions, which makes dealing with credit card debt moving into 2016 an important part of any financial plan. 

Startup files for Chapter 7 bankruptcy

Startup businesses in the United States have gained prominence since the tech boom of the late 1990s, though their roots stretch back to the founding of the nation. Unfortunately, as some Tennessee investors are aware, not every startup moves past this stage. Such is the case of Tudor Ice, which filed for Chapter 7 bankruptcy on Dec. 22. 

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