Sometimes a bankruptcy case involves a small business struggling to keep the lights on. Other cases involve a major business bankruptcy with much more complex business bankruptcy issues to address. In either case, however, there are some underlying fundamental issues that Wayne County residents should understand, no matter what point they are at in their businesses.
Take a look, for example, at the situation of Trump Entertainment Resorts, Inc., the company that owns a few high-profile resorts on the East Coast. The company has been attempting to pursue business reorganization under Chapter 11. As we've discussed previously, that would give the company some flexibility to proceed with a repayment plan and continue to operate. It would, however, likely mean some changes -- a company needs to present a sound argument under Chapter 11 as to how it would return to profitability.