Rejection of Leases
Bankruptcy Code 365 provides that subject to court approval, the debtor may assume or reject any executory contract or unexpired lease. This gives the debtor the power to pick and choose amongst their executory contracts and leases. In the retail context, this allows the debtor to shed the leases for its underperforming locations, while keeping the leases for its profitable locations. When used properly, rejection of leases can slim down a retailer to a core of profitable locations and increase its prospects post-bankruptcy. However, not all retailers take full advantage of their power to reject leases.
Ronald Page, Jr. of Ronald Page, PLC has extensive experience representing lenders, landlords, vendors, and other creditors in retail bankruptcy cases. His offices are located outside of Richmond, Virginia and he is able to advise you regarding the Movie Gallery Bankruptcy.
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East Cleveland is in trouble and hopefully voters will stay focused on what is important.
The issues.
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Richmond Bankruptcy
The current economic climate across the United States is rather dire and has resulted from a confluence of factors. These factors mean that the economic hardship is not isolated to any one sector. Unlike in previous downturns where one sector was disproportionately impacted in the current downturn a very wide range of industries and individuals have been impacted. As such the number of bankruptcies going through the court systems is at an all time high. Richmond most certainly has not been spared from this and many bankruptcies are a very common occurrence in Richmond. These bankruptcies are impacting both individuals and businesses alike. One of the most prominent Richmond based bankruptcies, as of late has been the bankruptcy of Circuit City. Due to the tremendous pressure on consumer credit and the fact that individuals are saving more money for fear of job loss this means that consumer discretionary spending has taken a tremendous hit. This also happens to be the area where Circuit City specializes, as consumer electronics are fundamentally discretionary. When you couple this economic climate with the fact that Circuit City is facing fierce competition this made a recipe for disaster. Bankruptcy in Richmond beyond Circuit City is an enormous problem and Circuit City is just the largest of many businesses suffering this fate.
bankruptcy bankruptcy
If you are a landlord affected by the recent filing of S & K Famous Brands regarding S&K Famous Brands Rejection of Leases check out that link as I believe it will provide you with the necessary information to take appropriate action.
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S & K Famous Brands Seeks the Rejection of Leases & Executory Contracts:
A good attorney with complicated corporate bankruptcy issues in Richmond, Virginia is:
Business S & K Menswear Bankruptcy, S&K Bankruptcy
I have gotten a lot of interest from my post about the S&K Menswear Bankruptcy for those looking for information they should click the link provided to a lawyer experienced in looking out for your interests.
Business bankruptcy, s&k famous brands, s&k menswear bankruptcy
S&K Famous Brands, Inc. (“S&K”) operating under the name S&K Menswear has filed for bankruptcy. This is a Richmond, Va company that has celebrated 40 years in business.
If you are a landlord or someone else affected by this action you should contact Cantor Arkema P.C. immediate to help you deal with the S&K Menswear Bankruptcy. Cantor Arkema is a Richmond, Va firm that deals with many high profile bankruptcy cases. The contact information below is of a qualified attorney dealing with the S&K Famous Brands Bankruptcy:
Ronald A. Page, Jr, Esq.
Direct Dial: 804-343-4367
Email: rpage@cantorarkema.com
Business S & K Famous Brands, S&K Famous Brands Bankruptcy, S&K Menswear
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