Running a business comes with many risks. Even after years of beneficial outcomes, companies could end up in difficult financial predicaments. It is not uncommon for business owners to consider filing Chapter 11 bankruptcy in efforts to address the financial problems that have befallen their companies.
Louisiana readers may be interested in a recent Chapter 11 filing. According to reports, retail store Charming Charlie has filed for bankruptcy for the second time in less than two years. The company was founded in 2004, and it completed its first bankruptcy case in April 2018. Unfortunately, the company continued to have financial difficulties, including a lack of capital and fewer customer visits. The company took on lower-quality inventory after its first bankruptcy, but those products often went unsold.