Sooner or Late the Smoke Will Clear!

This has been a bad year for corporations!  No one is escaping this economy clean.  It seems there are new companies each day having financial difficulties!    We thought that this would be a good way to talk about Bankruptcy in Denver because it shows that bankruptcy is something that affects small companies, major corporations and the average person out there.  No group is escaping this cleanly!  So what were some of the most famous Bankruptcy filings in 2009?

Frontier Airlines – For those of us in Denver, we are all aware of this giants issues and of course they were recently purchased.  Frontier Airlines filed Chapter 11 Bankruptcy this year and certainly that has been bad for our Denver economy.

Six Flags – It hasn’t been all fun and games for Six Flags.  This company had $1,800,000,000 in debt.  So, don’t feel too bad, you’re number can’t be this large!

Chrysler - The struggling auto industry has been victimized by rising oil prices and reduced consumer confidence.  It has been a terrible year for this car manufacturer!  It’s likely you and i won’t be as likely to have President Obama sending us a government check to bail us out!

Circuit City – Circuit City has a bad run with their internal technology being behind Best Buy and Ultimate Electronics and falling consumer electronics prices made the average ticket yield less profit. 

As you know, these corporations had bills they had to pay, just like you and I.  Sometimes these bills get to be too great and the obligations are no longer able to be met.  If you are in a situation like these corporations, bankruptcy filing may be what you need to consider.  Like the consumer market there is more than one type of method to deal with these ailing finances.  Frontier, Chrysler and Six Flags are still doing some business, Circuit City went away.  In a like manner, there is Chapter 7 and Chapter 13 filings available in Denver.  Give us a call to see what options might be best for your situation!