Chapter 11 Bankruptcy - Reorganization
Chapter 11 Bankruptcy is a reorganization. It in not a liquidation. Many companies that file for protection under Chapter 11 of the Federal Bankruptcy Act do so because they cannot pay a major creditor, or they are seeking protection because they have been named in a lawsuit. The lawsuit may be legitimate or not. Even an illegitimate lawsuit must be addressed.
Many large and/or successful companies have filed for protection under Chapter 11. Following is a partial list of these companies:
SVB Financial
Yellow Corp.
Rite Aid
Bed Bath & Beyond
Party City
Tuesday Morning
WeWork
AIG Financial
Armstrong Flooring
Regal Cinemas
Revlon
American Greetings
24 Hour Fitness
Bakers Square
Bergdorf Goodman
Brodon Dairy Co
Brooks Brothers
California Pizza Kitchen
Chuck E. Cheese
Dollar Rent A Car
GNC
Gold's Gym
Guitar Center
Hertz
Jos. A. Bank
Lucky's Market
McClatchy Company
Neiman Marcus
Pier 1 Imports
Ruby Tuesday
Sizzler
Forever 21
Payless
Baldwin Piano
Gump's
Sears
Winn-Dixie
Babies "R" Us
Eastern Airlines
J.G.Wentworth
Radioshack
Toys "R" US
Westinghouse Electric
American Apparel
Direct Buy
Republic Airways
Sport Chalet
The Orange County Register
Brooks Store
Quiznos
Sbarro
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Businesses that have filed under Chapter 11 of the Federal Bankruptcy Act can be sold with the consent of the court.
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