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The Limited clothing retailer files for Chapter 11 bankruptcy

A chain clothing store recently decided to file for bankruptcy. The move to file for Chapter 11 bankruptcy protection came after The Limited, which sold women's apparel, closed all 250 of its brick-and-mortar stores. This is just one retailer that has fallen victim in recent years to online competition and changing tastes among customers in Massachusetts and elsewhere.

The retailer started out as one store over half a century ago. It ended up having to close its doors due to declining traffic in malls, slipping sales, costly leases and the move toward shopping via the internet. Other retailers that have filed for bankruptcy during the past year are American Apparel, Vestis Retail Group, Sports Authority, Aeropostale Inc. and Pacific Sunwear of California Inc.

Commercial real estate property sold for more than $63M

A real estate investment and management company recently completed a commercial property sale in Massachusetts. The commercial real estate property is an office building located in the city of Worcester. Another real estate investment partner acquired this property for a total of $63.5 million.

The office building spans more than 413,000 square feet. It underwent major renovations recently. Some of the renovations included building system-related upgrades and amenity upgrades. The building also features a common area and a lobby that is considered to be first class.

Mall files for Chapter 11 bankruptcy protection

The owners of a mall in another state recently filed for bankruptcy protection. The Chapter 11 bankruptcy filing took place on a Friday. Bankruptcy filings may be helpful for companies in Massachusetts and other states that are facing financial challenges.

In the out-of-state case, the mall owners who filed for bankruptcy claimed that its lender cut off funding it had promised for renovations. The bankruptcy filing puts an immediate stop to a foreclosure legal suit that the lender recently filed against the mall. The lender alleged that the owner of the mall was behind on its payments for the more than $42 million loan it had taken out.

Health system files for Chapter 11 bankruptcy protection

A health system in a nearby state recently filed for bankruptcy. The health system specifically filed for Chapter 11 bankruptcy protection. It had quit paying several vendors in 2015, right before it closed a hospital following the state's halting of a subsidy that had run for a long time. Chapter 11 bankruptcy can be a helpful tool for companies facing debt problems in Massachusetts and elsewhere.

The health system announced that it would keep providing alcohol and drug services as well as psychiatric care at one of its medical centers. This is possible because its behavioral health business is capable of being self-sustaining. It will essentially run on a break-even basis.

Breach of contract can have negative consequences

An accurate and clear contract is foundational to a successful business. Unfortunately, sometimes breach of contract issues arise when it comes to partnership contracts or employment contracts. An attorney in Massachusetts can assist you in drafting a brand new contract or in reviewing an existing contract to make sure that your rights are protected.

A business contract can easily become complicated depending on its context. In some situations, complications surface because some contracts are inherently more complex than others are. With legal guidance, you can eliminate any vague wording or preventable ambiguity in a contract you are trying to draft, and you can also make sure that an existing contract is just based on your perspective.

Chapter 11 bankruptcy to benefit gas and oil company

A company in another state recently stated its intention to file for bankruptcy. The gas and oil company will file for Chapter 11 bankruptcy. Reportedly, it has been struggling in light of the current low energy prices. In Massachusetts and elsewhere, bankruptcy protection may be a viable solution for a company facing financial difficulties.

The company believes that filing for Chapter 11 bankruptcy will enhance its competitive position. During the past year, it has reportedly being striving to decrease its cost structure as well as enhance operating efficiencies. Reportedly, the bankruptcy filing will allow for the elimination of over $850 million in unsecured prepayment premiums, principal and accrued interest on its balance sheet. In addition, equity totaling $200 million is expected to be injected into the company to fund its development plan.

Divorce can be tricky for businesspeople

A Massachusetts divorce is typically emotional and stressful. However, dissolving a marriage can be particularly challenging for people who own businesses. A few tips may help business owners to navigate the divorce process effectively.

In all circumstances, it is imperative that a business owner keep his or her household finances separate from those of the business. Record keeping is a lot more difficult when household and business accounts are combined. In addition, if one's spouse is working in one's business, it may be beneficial to phase the spouse out as quickly as possible. This may enable one to hold onto more of the profit and assets of the business.

Lensar files for Chapter 11 bankruptcy

A company in another state recently filed for bankruptcy. Specializing in cataract surgery laser systems, it decided to file for Chapter 11 bankruptcy. Companies in the state of Massachusetts and elsewhere can use this type of bankruptcy protection option to reorganize if they are experiencing financial challenges.

Lensar, the laser system company, said it will continue its operations during the reorganization process. A social commerce company called Alphaeon acquired Lensar last year in a stock, debt and cash deal. The deal was valued at an estimated $59 million.

Anger can have an effect on divorce proceeding

It is normal for people going through the dissolution of a marriage in Massachusetts to feel frustrated and emotionally exhausted. This is true whether the couple has few assets or many assets of high value. Anger does actually offer a few benefits, but it can also be a destructive emotion during the process of divorce.

Anger during divorce can have a variety of causes, including rejection, broken promises or even fear of the future. One benefit of anger that a person can capitalize on during the divorce process is that it alerts the person that there is a threat to his or her dignity or safety. It has the potential to help people to protect themselves from harm as well as to stick up for themselves when necessary.

Commercial real estate property to be used for medical marijuana

An out-of-state company desiring to grow and market medical marijuana is currently in the process of purchasing a mill in Massachusetts for this purpose. The commercial real estate property that will be bought is four stories tall and made of brick. It features more than 170,000 square feet of space and sits on a 3.5-acre lot.

At the moment, the mill is only half occupied. The woman who owns the mill owns multiple mills in the area. A former city mayor recently said the property is at an excellent location because it is right off Interstate 79 but also is not undesirably prominent in the local community.

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