Posted on Wednesday, November 9th, 2011 at 8:06 pm
Recently, Gire Roofing and its owner filed for Chapter 7 bankruptcy in Danville. The filing includes a consumer filing from the business’s owner and his wife, as well as a small business liquidation for their roofing business.
While Chapter 7 bankruptcy is most often filed by individuals, small businesses can also chose to file for Chapter 7 bankruptcy as a way to liquidate their company and use the assets to pay off business debts.
Gire’s owner said he was looking for a fresh start with the Chapter 7 bankruptcy filing. The roofing business has been purchased and is now operating with the same name but a different owner in Champaign.
Contact the Joliet small business liquidation lawyers of The Law Offices of Stuart B. Handelman at 815-722-2201, if you or someone you know has questions about filing a commercial Chapter 7 bankruptcy.