Event planner in Raleigh seeks bankruptcy protection
Posted on Thursday, December 31st, 2015 at 1:40 pm
A businessman who owns a well-known florist and event planning company in Raleigh recently filed for Chapter 11 bankruptcy to get some help with paying back loans during slow months.
According to Fresh Affairs LLC, the company will continue serving the people of Raleigh. Owner Lyn Graves stated that they have many event bookings through 2016, and that their financial standing is much improved from this point in 2015. The bankruptcy filing is a way for the company to get some help “through a couple of really slow months.”
While the company’s gross revenue from 2013 to 2015 has increased by almost 69 percent, the company reportedly took out short-term loans totaling almost $106,000 to deal with the cost of growth. An attorney representing Fresh Affairs explained the Chapter 11 filing will give its owner additional time to settle debts.
Filing for Chapter 11 Bankruptcy can be a good option for individuals who are struggling to keep up with the demanding costs of an expanding business. If you have decided to file for bankruptcy in Raleigh, an attorney at the Bradford Law Offices, PLLC may be able to help you get the best results from the process. Call our office today at (919) 758-8879 to find out more about our services.