Fewer publicly traded companies filed for bankruptcy last year, according to court documents.  2011 was the third year in a row that fewer large companies filed for Chapter 7 or Chapter 11 bankruptcy.

In total, 88 public companies filed for bankruptcy in the U.S. last year.  In 2010, 106 publicly traded companies sought bankruptcy protection, and, in 2009, 211 public firms filed for bankruptcy.  

Notable publicly traded businesses that filed for bankruptcy in 2011 include AMR Corp., Borders Group Inc., and MF Global Holdings Inc.  The average amount of assets listed in bankruptcies filed by public companies in 2011 was $1.2 billion.

Contact the Arizona business bankruptcy attorneys of the Harmon Law Office at 480-829-0494, if you or someone you know would like to speak with an experienced bankruptcy attorney about saving your business through Chapter 7 or Chapter 11 bankruptcy.

The maker of Twinkies snacks and Wonder Bread, Hostess Inc., may be filing for Chapter 11 bankruptcy protection some time this week. If this does occur, it will be the second time that the company has done major restructuring in recent years.

The private company, based in Irving, Texas, now has a debt of $860 million which is due to rising costs ingredients such as flour and sugar, as well as a high cost of labor. Vendors are owed more than $50 million and many of them have been demanding some payment.

Since the company has sought bankruptcy protection before, they may now have to file for a different type. Another issue that has caused distress for Hostess is that people have switched to whole grain, healthier bread rather than white bread. 

If you or your business is in a similar position and are considering your financial options, this can be a stressful and difficult time. Contact the Arizona bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494.

AMR Corp., the parent company of American Airlines,  may not be seeking bankruptcy because of the high price of fuel and the down economy, but some experts say that they would be a great candidate for it.

It has not yet been said if American will be for sure filing for bankruptcy or not. It is one of the only airline companies that has never filed for bankrupcty because the CEO is opposed to the entire concept of bankruptcy.

However, some think that American is the perfect bankruptcy candidate along with the other nine largest airline companies. This formula calculates five business ratios in order to estimate the financial standings of the company. It is not a definite answer to whether or not the company should file for bankruptcy, but it is a good indicator.

If you or a loved one has been considering bankrupcty, you need to consider all of your options before decisions are made. Contact the Arizona business bankruptcy lawyers of the Harmon Law Office by calling 480-829-0494.

After filing for bankruptcy five months ago, Susie's Deals, a retailer in Southern California, has now been sold to another retailer for $775,000.

The new owner also owns TopTop Clothing Inc. and PrimeTime Clothing Inc., and will begin to operate the 48 Susie's Deals stores under the same name. TopTop Clothing and PrimeTime Clothing are wholesale outlets that are located in California and Texas.

Susie's Deals has locations in Nevada, Arizona, Utah and California. The owner has said that Susie's Deals will have the same name, but the merchandise will change because it was upgraded. This retailer was the back-up bidder in the bankruptcy case, but the top bidder was unable to get the cash ready in time for the deal. 

If you or your loved one are considering filing for bankruptcy for your business, you need experienced representation on your side in order to discuss all of your options. Contact the Arizona business bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494.

Atomic Comics is now closing their doors after 25 years in business because of bankruptcy issues. The owner of all four comic stores filed for bankruptcy and stated that the business was never able to recover after car crashed into the Mesa store and caused over $1 million in damage.

The store closed for five months to repair the building and the owner stated that the customers did not come back to the store after this. Other loyal customers are shocked by the closing of the store that has been such a staple in the Valley area for years.

The owner is also having trouble with his home because he used it to secure leases on the Atomic stores. Those leases now have to be broken.

If you or a loved one are struggling to keep you business above ground, contact the Arizona business bankruptcy lawyers of the Harmon Law Office by calling 480-829-0494 today.

A German solar panel company has announced that the Tuscon plant will be shut down. This closure will cost 60 employees their jobs and officials have said that the cut backs do not end there.

The company Solon SE will also be laying off people at the Berlin Headquarters, mostly in the administrative department. The company has reportedly been struggling to make revenue and in the first half of 2011, they reported a loss of nearly $91 million. The company is now leaving the U.S. solar panel industry and will be refocusing their efforts elsewhere.

If you or a loved one has been struggling financially, you need experienced represenation on your side to discuss your options. Contact the Arizona business bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494.