The economy, while slowly seeming to improve, is still taking its toll on many people in America, from corporate businesses to individuals alike. Bankruptcies are still at an all-time high and they affect companies and people from every economic stratum. There have been some surprising and quite large bankruptcies during the year 2012, what follows are a […]

Cornett Hospitality, LLC filed Chapter 11 bankruptcy on November 21, 2012. This was a voluntary bankruptcy filing on the part of Phil Cornett, director of Cornett Hospitality, LLC. Mr.Cornett has operated a number of Hooters, Topeka’s Steakhouses and Max & Erma’s restaurants, throughout Virginia, in addition to Hooters in West Virginia. It surprised many outsiders, […]

Bankruptcy is rarely an abrupt reality, and Hostess is no exception. The first signs of trouble were brewing in 2004 when Hostess, then called Interstate Bakeries, filed for Chapter 11 bankruptcy the first time. A few factors played into the initial financial troubles. One might have been the introduction of new enzymes designed to extend shelf life […]