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Posts tagged "secured debt"

Retail giant Brookstone seeks Chapter 11 Bankruptcy protection


In today's economy, many retail establishments that were extremely successful in the past have experienced a downturn. The current economic condition has forced many companies in Texas and other parts of the United States to look for debt relief by submitting a bankruptcy filing according to the guidelines of Chapter 11 of the U.S. Bankruptcy Code. Brookstone, a well-known retail chain whose stores are a common sight in shopping malls around Texas, announced it filed for bankruptcy under Chapter 11 as part of its $147 million sale to Spencer Spirit Holdings.

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