Charles J. Schneider, P.C.certified consumer bankruptcy specialist
forms for your office visit
call today 734-237-1523
Practice Areas Menu In This Section

Michigan-based retailer emerges from Chapter 11

Readers of this blog may be familiar with the story of Family Christian Stores, the Michigan-based retailer that sought protection under Chapter 11 of the bankruptcy code. The chain has recently emerged from the business reorganization process, and its management team has plans for it to resume growth.

As part of the business restructuring, the retailer was sold to another company last month in a deal worth at least $52.4 million. The owner of the purchasing company is the same person who was chairman of Family Christian when the chain filed for bankruptcy protection. Furthermore, the management team of the purchasing company consists of many of the same people who were in charge of Family Christian.

This detail should be of interest to business owners in Wayne County who may be reluctant to use the commercial bankruptcy process for fear of losing control of the company they have worked so hard to build. It is not at all the case that these business owners will necessarily be kicked to the curb if bankruptcy protection is sought. In this case, the owners of the company have mapped out a growth strategy that will hopefully keep the company in business and keep the retailer's specialty merchandise on the shelves.

It is common for business owners in need of a restructuring to face complex business bankruptcy issues. Feelings of confusion should be expected; after all, nobody who has spent a considerable amount of time building a business is going to necessarily know the ins and outs of bankruptcy law. This is where a business bankruptcy law firm can come in and put their accumulated knowledge to work for Michigan business owners.

Source: MiBiz, "Family Christian's Next Chapter: Niche retailer emerges from bankruptcy with plan for modest growth and profitability," Nick Manes, Aug. 30, 2015

No Comments

Leave a comment
Comment Information
  • rating

    Posted by MaryDecember 11, 2015

    "I am overwhelmed by your response to my call, even 10 years after my bankruptcy was discharged. You have more knowledge and expertise than I could have imagined. Because of you, my fears have been put to rest. For that, I'm so very grateful. Thank you many times over. "

  • rating

    Posted by ClientOctober 26, 2010

    "... I was extremely impressed with Charles' understanding of the bankruptcy laws to the extent that I felt certain that my best interests were always at the forefront. "

  • rating

    Posted by MarleneJanuary 8, 2014

    He helped me thru my 1st bankruptcy and now the second. I had no idea what to expect , but they kept me informed and answered all my questions. Mr. Schneider is the most experienced and knowledgeable lawyer I have ever met. If you have to file call this attorney first!

  • Avvo Rating 10.0 superb | Top Attorney Bankruptcy
  • Rated By Super Lawyers Charles J. Schneider | visit | super lawyers 2011-2015
  • Avvo Ratting 10.0 superb Top attorney chapter 7
  • Avvo clients' choice 2014 | chapter 7
  • American board of certification | certified consumer bankruptcy specialist
  • AV lexisNexis Martindale-Hubbell Peer Review Rated for ethical standards and legal ability
email us for a response

Let us evaluate your situation
and identify solutions

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy