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May 2018 Archives

Owner of several Applebee's restaurants files Chapter 11

A business that owns over 150 Applebee's franchises in different states, including several in Kentucky, recently announced that it filed for Chapter 11 bankruptcy. According to the company, their restaurants will be able to remain in operation while the bankruptcy is ongoing.

Offering options to those who want to protect their car

Having a decent car is nothing short of essential for many families in the Louisville area. Some rely on their vehicles to make their living, and the vast majority of Kentucky residents at least need a car to commute to and from their jobs, to do errands and to help their kids and other family members to have an enjoyable life.

Keeping property is one advantage to Chapter 13

As previous posts here have discussed, one of the advantages to Chapter 13 bankruptcy is that a Kentucky family gets to hang on to all of their property, even after the bankruptcy. This is different from the more common Chapter 7 bankruptcy, in which a debtor may need to surrender non-exempt property to a bankruptcy trustee so that it can be used to pay off creditors. Instead, a Chapter 13 debtor agrees to a repayment plan over time.

Retailer with Northern Kentucky stores out of bankruptcy

One clothing retailer with a presence in Northern Kentucky announced that it had successfully completed a Chapter 11 bankruptcy reorganization plan and was looking forward to a more profitable future. The end of the bankruptcy did not come without some cost to the chain, as it was forced to close down 100 stores nationwide and reduce its corporate staff. Moreover, there were some shifts in management that apparently came at the urging of the store's creditors, which ultimately signed off on the store's reorganization.

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