Bankruptcy Attorney
Bankruptcy Lawyer Attorney Profiles Common Questions Bankruptcy Evaluation Office Locations

No Money Down on Chapter 13 Cases
For Qualified Wage Earners!
Chapter 7 Bankruptcy from $850

Phone and Video Consultations
Available Today!

Information Center
Asset Protection
Bankruptcy Overview
Business Bankruptcy
Chapter 13
Chapter 11
Chapter 7
Creditor Harassment & Abuse
Debt Relief Options
Eliminating 2nd Mortgages
Fighting Foreclosure
Means Test
Rebuild Credit
Taxes & Bankruptcy
Bankruptcy Alternatives
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Process
Bankruptcy Time Line
Benefits of Bankruptcy
Chapter 7 vs. Chapter 13
Filing for Bankruptcy
Is Bankruptcy Right for Me?
Life After Bankruptcy
Why Hire a Bankruptcy Attorney
Will I Lose Anything?
Read our blog

Company Hopes to Get Operations Running Post-Bankruptcy

Just in time for the holidays, a famous fruit gift box company hopes to get back up and running after winning approval of its business bankruptcy.

The company, which has been in operation since 1930, went through a lengthy bankruptcy process that involved several rounds of negotiations with its investors. After presenting the final settlement and recovery plan to a judge Delaware, the company was given tentative approval. The bankruptcy judge will allow up to $200 million in debts to be erased if the senior shareholders get complete control of the company. While this is great news for the company itself, senior members are concerned about one creditor that has made demands of its own.

The lender is owed $36 million from the company, making it one of the largest creditors listed on bankruptcy documents. If the gift box company agrees to its claim of $36 million, the company will terminate the pensions of both past and present employees.

Ensuring that the company will be able to continue operations into the holiday season, its original lenders have agreed to continue financing it after it leaves Chapter 11 bankruptcy protection.

If you have questions about filing for Chapter 11 in Illinois, take the time to contact a Chicago business bankruptcy lawyer from our law office who can address your concerns and offer insight.
Free Bankruptcy Evaluation
Eliminate Debt & Bills
123 W. Madison Street, Suite 205; Chicago, IL 60602
Attorney Web Design
The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100