Posted on September 30th, 2009
Santa Fe Cattle Co. closed three of its restaurants recently, including one in Tuscaloosa. The restaurant chain, which is known for its Southwestern food, filed for Chapter 11 bankruptcy in July.
The plan to close some of its restaurants is part of the company’s bankruptcy reorganization. According to trial records, the chain reported 2008 revenues of $55 million and 2009 forecasted revenues of $60 million.
If your company is considering filing for Chapter 11 bankruptcy, contact the Birmingham bankruptcy lawyer Paula Greenway at 205-324-4000.
Posted on September 16th, 2009
Dixie Pellets filed for Chapter 11 bankruptcy earlier this week. The alternative fuel plant in Selma laid off employees earlier this month and cited more than $100 million in debts, according to the bankruptcy filing.
The plan is an affiliate of Harbert Management Corp., and the Harbert Power Fund III has an 86-percent ownership stake in the plant, according to the filings. The filings also reported that the plant had a loss of $14 million on sales.
If your company is burdened by debt and is considering filing for bankruptcy, contact the Birmingham bankruptcy attorney of Paula Greenway at 205-325-4000.
Posted on September 10th, 2009
Jefferson County may file for bankruptcy soon. According to County Commission President Bettye Fine Collins, the county is facing the prospect of being unable to pay a $105 million bond payment due Sept. 15.
Along with the bond payment, the county also may be unable to repay $22 million in occupational tax revenues. Although the revenues had already been spent, they were repealed by an Alabama district court last month.
On top of the repayments, the county must find a way to cover a $3.9 billion sewer debt.
If you or your company is facing the prospect of bankruptcy, contact the Birmingham bankruptcy lawyers of Greenway Law, LLC, at 205-324-4000.
Posted on September 4th, 2009
Montgomery based Bluewater Broadcasting has filed for Chapter 11 bankruptcy protection. The filing followed Landmark Bank calling for immediate repayment of its $4.5 million loan to the company.
In its filing, the company listed $10 million in debts. It will continue to operate its five radio stations in the Montgomery area while it goes through the bankruptcy reorganization process.
If you are considering filing for bankruptcy, contact the Birmingham bankruptcy lawyers of Greenway Law, LLC at 205-324-4000.
