The clothing chain stated to Reuters that it may be headed for bankruptcy if can’t come up with funds to keep operating and may even have to liquidate. The company, which has been plagued by controversy over the overly sexualized images it uses in their advertising campaigns, has hired financial advisers to determine whether they will need to enter a structured bankruptcy to alleviate financial issues. The company hopes to recover from the economic slump and hasn’t filed for bankruptcy or liquid as liquidation as of yet.
The National Bankruptcy Research Center has stated that bankruptcy filings went down in February despite the down trend of consumer confidence, but people still find themselves in trouble. For numerous people hiring a bankruptcy attorney can be the necessary relief from increasing debt. The states of Nevada, California and Tennessee make up over half of bankruptcy filings in the US, according to the center.
There can be a great deal of stigma attached to filing for bankruptcy but a bankruptcy lawyer can assure there is nothing wrong with seeking relief from debt. There a number of businesses and individuals that has turned their lives and companies around after bankruptcy, Donald Trump is just one example. There are a few ways to reorganize your finances and keep things afloat under the bankruptcy laws. Getting advice from a bankruptcy attorney can outline the process and inform their clients as to which structures work best for their debts.
