Cabinet manufacturing company in Apex sought bankruptcy protection
Posted on Thursday, October 16th, 2014 at 6:19 pm
A custom cabinet manufacturer based in Apex, North Carolina reportedly filed Chapter 7 bankruptcy in order to settle their debts with creditors, an article on Wood Working Network reported October 13.
In the bankruptcy documents filed by Forbes Custom Cabinets, they have collected debt totaling $2.1 million, and assets only coming to $666,325. Among the 65 creditors identified by Forbes, the majority of their debt is owed to Bank of North Carolina for over half a million. Founded in 1985, the company provided customized cabinets in schools, government offices and hospitals. Debt settlement and negotiations are currently ongoing.
If you are facing overwhelming financial hardships in your business, filing for bankruptcy is worth considering, especially if you feel like you are running out of options. But this a delicate and important decision that is best evaluated with the aid of professionals in the field. Find out how the Raleigh bankruptcy lawyers at Bradford Law Offices, PLLC may help you today by calling (919) 758-8879.