Economic Downturn May Have Prompted Transportation Company to File Chapter 7

Despite the continued need for transportation and delivery companies, a specialty company has been forced to file for bankruptcy. The small company opted for Chapter 7 bankruptcy and has told its customers that it will no longer be able to service them. According to the bankruptcy document filed in Albany, Georgia last week, the online service provider listed liabilities of $437,258 and assets of $155,260. The small company was owned by just one man that ran the business locally in upstate New York. It seems the downturn in the economy forced companies in the transportation industry to seek different services that the small provider could not offer.

Is your company in danger of closing forever? If so, you should speak with a San Antonio bankruptcy attorney about your legal options. Learn about how filing for bankruptcy can keep your company in full operation or how you can liquidate your assets to fulfill your debt obligations by contacting the Malaise Law Firm to arrange your initial consultation with our team of bankruptcy lawyers.