American Apparel, the notorious American-made clothing manufacturer and retailer based in Los Angeles, has been struggling for years. The company rose to prominence after being founded in 1989, but harsh competition has developed from retailers such as H&M and Forever 21 that provide cheaper fashionable clothing for their young customers. American Apparel has not made…

Read More

Larry King has been a renowned host on quality shows for both television and radio stations for decades. He has experienced great success since his career took off in 1978 as an all-night national radio broadcaster. But did you know that before then, he struggled to get by financially and even had to file for…

Read More

The Disney brand has been a household name around the world for decades, but did you know that even the illustrious Walt Disney had a rocky financial start? Here is the Walt Disney bankruptcy story. In 1922, Walt Disney incorporated his “Laugh-O-Gram” film studio with the intention of producing animated fairy tales. He found a…

Read More

Billionaire Donald Trump has kept himself in the limelight throughout his career. He started out working for his father’s company in real estate then quickly rose to fame as a casino mogul when he purchased the Taj Mahal and several other Atlantic City casinos. His notoriety spread when he branched out into reality television, and…

Read More

Bankruptcy is stressful and discouraging, but there are plenty of examples of people bouncing back and succeeding after filing. One such person was Henry Ford, the famous industrialist who founded Ford Motor Company. Henry Ford was born in Dearborn, Michigan in 1863. He worked as a machinist for several years and was hired by the…

Read More

Filing for bankruptcy during a divorce is a stressful situation made even worse when you have to do both at the same time! It’s crucial to understand how these processes will affect each other now and in the future. Here are some frequently asked questions about this situation and suggested solutions: Should I file for…

Read More

Background Molycorp Inc., the sole U.S. provider of rare earth materials, filed for Chapter 11 bankruptcy in June of 2015. Rare earths are a group of 17 metals (including neodymium, lanthanum, and cerium) that are used in high-tech communications, transportation, and industry such as batteries, magnets, and alloys. The market for rare earths has dramatically…

Read More

Quiksilver was founded in Australia in 1969 and quickly became a top provider of clothing in surfing hotspots in the United States. It has been represented by huge surfing names such as Kelly Slater and Tom Carroll. After hitting its peak in the ‘90s, the company has faced increasing competition and decreasing demand, especially in…

Read More

Whether or not you are liable for business debts accrued depends on the structure of the business. Sole proprietorships, partnerships, corporations, and LLCs all handle the problem in different ways. Sole Proprietorship You are a sole proprietor if you are the only owner and have not incorporated or set up a separate business entity. In…

Read More

When someone dies without setting up a last will and testament, it is considered an “intestate” death. Each state has slightly different intestacy laws that determine how the deceased’s property is distributed. This includes assets such as bank accounts, securities, and real estate. In general, if you die intestate your belongings will go to family…

Read More