Family Christian Stores sought bankruptcy protection

Posted on Monday, March 2nd, 2015 at 7:05 pm    

The biggest Christian printed literature retailer based in the U.S., Family Christian Stores (FCS), recently filed for bankruptcy, Christian Today reported on February 12.

Though FCS filed for Chapter 11 bankruptcy, they assured patrons that they would not close any of their 266 stores, located in 33 states. FCS also said that they will not cut down on their workforce. FCS reportedly has millions of debts, the majority of which are owed to publishers. Company CEO and President Chuck Bengochea stated on a video that their company has been greatly affected by the digital revolution, the recession, and financial problems. In the bankruptcy filing, FCS asked the court for 60 days to finish the sales process. The company is also looking forward to further improving their marketing strategy to impress their customers.

Facing economical and financial difficulties in your chosen venture is stressful, especially if your business has become encumbered by debt. However, if you are in such a situation, filing for bankruptcy could be a feasible option to give you sufficient time to recover your business. Learn more about your options from the Raleigh lawyers of the Bradford Law Offices, PLLC, today by calling (919) 758-8879.