According to industry insiders, the company has been in financial trouble for years. However, company officials knew that bankruptcy would be inevitable after the former owners refused a bid for purchase from a Chinese company. While a new buyer could emerge during the bankruptcy process, it is unlikely as the market for niche automobiles is weak at this moment.
Is your business dipping into the red constantly? If so, you may want to consider Chapter 11 bankruptcy as an alternative. To learn more about this type of bankruptcy and how it will impact your company, contact the Malaise Law Firm now to speak with a San Antonio bankruptcy lawyer who can advise you.