Law Office of Camron Hoorfar, PC

Checkers Drive-In Restaurants Inc. have sought out financial advisers in order to help them maneuver through the effects of the coronavirus pandemic. Their private-equity owner, Oak Hill Capital Partners, hired both an investment banker and turnaround adviser to investigate possible restructuring. Since being bought in 2017, with the sale-increase of over 3%, Checkers must still dissolve $300 million in debt that is hindering from the acquisition. 79% of the Checkers division was franchised with about 584 operating US locations. At this time, the spokesperson for the company has not mentioned whether the employees will be affected by this restructuring process.

Is bankruptcy becoming your only option? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.  

Due to the unforeseen circumstances caused by the COVID-19, 42 hospitals closed or have filed for bankruptcy. With the financial tests we will face in the upcoming months, this may push even more hospitals into the same dilemma. Between March 1^st and June 30^th, they are expected to lose approximately $200 billion dollars, which is $161 billion more than they were expected to lose stemming from cancelled services, nonelective surgeries, and outpatient treatment.

Experiencing financial challenges? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

The corporation for American Addiction Center has filed for bankruptcy, according to the Bankruptcy Court in Delaware. The company says they expect to come out from bankruptcy in 125 days, after implementing a reformed plan to drop out their debt. AAC has decided to   finance $62.5 million that will permit them to continue business during this restructuring process. With operation of rehab centers in seven states, the company failed to commit to their debt responsibilities and thus had to enter a moderation arrangement with creditors. 

Do you need to file for bankruptcy? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to set up an appointment.

 Within the last few weeks, numerous companies are seeking bankruptcy filing, more in the last two days than in the last two weeks. Seven cases of bankruptcy filings have been reported since Sunday, topping the already five that were reported as of June 13^th. Companies such as, 24 Hour Fitness Worldwide Inc., Pyxus International and two new software corporations are all included. A report shows the corporation, Skillsoft Corp., helped set a software company bankruptcy record of 4 this year. A mere 6 months into 2020, the depleted economy and pandemic have caused an astonishing 111 bankruptcies. This has been the most reported since the year 2009.

Leaning towards bankruptcy? We can help. Contact our office at 816-524-4949 or you can schedule an appointment by visiting our website at hoorfarlaw.com.

  Brooks Brothers, the clothing store, will be joining the slew of unfortunate bankruptcy filings. Since the filing, the two most successful companies, Authentic Brands Group LLC and Simon Property Group Incorporated are partnering up to bid for the 200-year-old chain.  Prior to the outbreak, expensive clothing lines, including Neiman Marcus Group and Dean & DeLuca, have had a difficult few years, leaving Brooks Brothers as just another front to take a hit in sales.

Due to weddings, graduations, proms, and other ceremonial events being cancelled, the “suit and tie” apparel has been traded for a more relaxed look with potential customers now working from home.

Considering bankruptcy? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.