Montgomery County-based company files for bankruptcy

Posted on Friday, September 11th, 2015 at 8:18 pm    

A well-known Montgomery-based furniture retailer recently filed for Chapter 7 Bankruptcy after experiencing hardships with their business, an article from bizjournals.com reported.

According to reports, the Tony’s Factory Outlet Inc. has debts from $100,000 to $500,000, to companies like Heritage Home Group LLC, Ashley Furniture Industries, and Vaughan-Bassett Furniture Co. Bankruptcy papers showed that the outlet contains $50,000 worth of assets. The furniture retailer company has several locations in North Carolina, and has been running for four decades. The company filed for bankruptcy in order to liquidate their remaining assets. An attorney representing the company explained that economic hardships resulted in Tony’s incapability to maintain the business.

Deciding to file for bankruptcy is a viable option available to entrepreneurs who are experiencing financial difficulties in their chosen venture. However, if you have decided to file for bankruptcy in the Raleigh area, the lawyers of the Bradford Law Offices, PLLC may assist you. Learn more of your options with us today by calling (919) 758-8879.