Bankruptcy, Foreclosure & Loan Modification Posts in March, 2017

Payless Shoes to File for Bankruptcy and Plans to Close 500 Stores

Payless Shoesource, Inc., a mall staple and go-to shoe supplier for consumers across the country, has announced that it will file for bankruptcy as soon as early April 2017 to address its $655 million debt. Much of this debt is outstanding payments to Chinese factories, which sparked protests at a container freight station in Xiamen, China....
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What is Chapter 22 Bankruptcy?

You might have recently heard or read that Radio Shack filed for “Chapter 22” bankruptcy. This is not an actual chapter of bankruptcy. Rather, it is a euphemism used to refer to a company’s second bankruptcy, playing on the idea that two Chapter 11 filings equal one Chapter 22 filing....
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL
  • Lawyer.com