Virginia Restaurant Closes Its Menus; Files Chapter 7 Bankruptcy

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Arcadia, a restaurant located in Richmond, Virginia, which operated through Arcadia Partners LLC, has recently filed Chapter 7 bankruptcy. The bankruptcy filing revealed that the business had a gross income in 2012 of $64,883 but showed losses of $34,000 and $89,000 in 2013 and, to date, in 2014, respectively. The company had $264,000 in liabilities, including rent to its landlord and monies owed to food and equipment vendors and utility providers. It also owed $12,000 in Richmond city meals taxes and over $14,000 in state and federal taxes. Its only assets appear to be only about $44,000 worth of restaurant equipment, reports Michael Schwartz on www.richmondbizsense.com. John Van Peppen opened his eatery in late 2011; the site previously housed Café Gutenberg. Van Peppen was previously in management at Fleming’s, a national chain of steakhouses with a local site in Stony Point Fashion Park. Your overwhelming debt is a serious matter that you need to deal with now. Filing for Chapter 7 or Chapter 13 personal bankruptcy is complicated. You need a knowledgeable and experienced bankruptcy attorney from Client First Bankruptcy at your side to guide you through every step. Call us toll-free at 800-383-6004 Monday through Friday from 8:30 a.m.-6:00 p.m. Central Time to speak with an experienced bankruptcy representative. For 24/7 access, please log onto our easy-to-navigate website at clientfirstbankruptcy.com for vital information about your Chapter 7 or Chapter 13 bankruptcy. It could be the key to your financial freedom. We help Americans eliminate their debt. Let us help you, too. Call us today, sleep better tonight.

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Chapter 7 Bankruptcy No Laughing Matter for Alabama Toymaker

Written by CFB Blogger. Posted in Blog

Birmingham, Alabama-based toymaker Summit Products LLC has filed for Chapter 7 bankruptcy, listing over $6.8 million in liabilities and only $1.6 million in assets. The largest creditors holding unsecured non-priority claims are Everlasting Toys Co. Ltd and Eastern Progress. The company’s headquarters is listed for sale with a $2.2 million asking price, according to Loopnet, the largest on-line commercial real estate listing service. In 2012, Summit Products had ranked among Birmingham’s 100 largest private companies with $10.4 million in revenue and 18 employees, according to the Birmingham Business Journal’s The List. When the toymaker began its business in 1995, it only sold on a direct-to-customer basis. However, some five years later, it started selling its products to retailers including Wal-Mart, Target and Toys-R-Us. Its core brands, ZillionzTM and Backyard SafariTM, are sold on Amazon, reports Antrenise Cole for the Birmingham Business Journal. If you have been thinking about filing Chapter 7 or Chapter 13 personal bankruptcy due to failed real estate or other investments, contact the attorneys at Client First Bankruptcy. We are experienced and knowledgeable in the field of all aspects of personal bankruptcy. Hiring a Client First Bankruptcy attorney to counsel you through the process and provide representation may be the key to your financial freedom.  We have helped thousands of consumers like you discharge their debts.  For your free initial phone consultation, please call us toll-free at 800-383-6004 today or log onto www.clientfirstbankruptcy.com for more information. Our well-informed and compassionate attorneys answer their phones Monday thru Friday from 8:30 a.m. – 6:00 p.m. Central Time. Give us a call today; don’t you and your family deserve a secure and happy future?

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