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February 2018 Archives

Music college files for Chapter 7 bankruptcy

A well-known college of music has closed its doors after filing for bankruptcy in federal court. Connecticut musicians may be familiar with the McNally Smith College of Music, a private college in a neighboring state. The company intends to use the Chapter 7 filing to liquidate its assets to pay down existing debt, a tactic commonly used by struggling businesses. 

Restaurant location closes, files for Chapter 7 bankruptcy

In a move that was sure to disappoint fans of the famous San Francisco original, Tadich Grill in the nation's capital have closed their doors for good. The owners of the satellite location filed for Chapter 7 bankruptcy after controversy surrounding family politics allegedly hurt their business. Here in Connecticut, the same opportunity to reduce or even wipe out debt exists for business owners facing struggles of their own.