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Gander Mountain ready to file for Chapter 11 bankruptcy

Gander Mountain, which sells camping, fishing and hunting gear throughout the country, is getting ready to file for bankruptcy protection. The possible Chapter 11 bankruptcy filing comes as the retailer struggles to keep up with its debt. Any business in the state of Massachusetts that cannot overcome its debt challenges may find Chapter 11 bankruptcy protection to be beneficial long term.

The retailer, which is privately held, has opened about 60 new retail stores since 2012. It has more than 160 locations in 27 states. The store also operates a catalog business online along with an electronic commerce retail unit.

More women than men make smart money choices following divorce

According to a new survey, 75 percent of divorced individuals who are retirement age do not know enough about how to manage their money. However, women appear to be doing better than men in this area following divorce in the state of Massachusetts and elsewhere. These findings come from the American Institute of CPAs.

In particular, women are two times as likely to pursue jobs and increase the amount of money they save toward retirement compared to men. In addition, based on the survey, women have quadruple the likelihood of improving their spending habits when compared to men. Furthermore, women have a 14-times-greater chance of actively pursuing financial advice following divorce. Still, the spending habits of both women and men were found to be likely to deteriorate after a marital split-up.

Divorce can happen in adults' younger years

People generally get married with the intention of staying married in the state of Massachusetts and elsewhere. However, it does not always work out that way as irreconcilable differences arise. Unfortunately, the process of getting a divorce can be challenging no matter how many or how few years the couple has been married.

In the year 2015, nearly 11 percent of people in their 30s had already gotten divorced. However, back in the years 1960 and 1980, a higher percentage of people in their 20s actually ended their marriages than in the year 2015. Many more people were experiencing their second or their third marriages in their late 20s back in 1960 or 1980 than a couple of years ago.

Sporting goods distributor files Chapter 11

A sporting goods distributor recently filed for bankruptcy protection in another state. The Chapter 11 bankruptcy filing was completed on a recent Tuesday. Filing for bankruptcy can be a beneficial move for companies in Massachusetts that are having trouble overcoming their business liabilities.

The sporting goods distributor operates a total of 68 stores in seven different states, including stores such as MC Sporting Goods and MC Sport Outdoors Centers. The company said it has not been able to compete with resellers online. In addition, there is more competition with distribution channels and specialty retailers. The company also said that consumer preferences are changing as well.

Identifying assets important step in preparing for divorce

The process of dissolving a Massachusetts marriage can be a harrowing time emotionally. However, it is essential to avoid losing sight of the big picture when navigating this type of family law proceeding. A couple of tips may make it possible to be financially prepared for the divorce process as much as possible.

Identifying all assets is important in the beginning. Then, it is necessary to clarify which assets are in which spouses' names, including investments, mortgages and bank accounts. This is essential for determining what property is separate property versus what property is marital property and thus subject to division during divorce.

Sport retailer files for Chapter 11 bankruptcy

A retailer in another state recently filed for bankruptcy. The company, Eastern Outfitters, is the parent company of Eastern Mountain Sports as well as Bob's Stores, a discount chain. Its Chapter 11 bankruptcy filing is one of the latest filings made by retailers in the United States, including in Massachusetts, amid the increasingly competitive pressure that the sector is facing.

In its bankruptcy listing, the company listed liabilities and assets in the $100 to $500 million range. A private equity firm owns the company after acquiring Eastern Mountain Sports and Bob's Stores through a 2016 bankruptcy involving a retail group that previously owned these store chains. The private equity firm that owns Eastern Outfitters reported that the company's annual revenue at that time was a whopping $400 million.

Golf equipment company completes Chapter 11 bankruptcy filing

A golf equipment company in a different state recently filed for bankruptcy protection. The Chapter 11 bankruptcy filing comes just two years following the company's launch. This type of bankruptcy filing is available to businesses in Massachusetts and elsewhere that are struggling with overwhelming liabilities.

The golf equipment company that recently filed for bankruptcy completed the filing just one month after laying off the majority of its staff. Following the layoffs, just 10 employees remained at the equipment company. At the time, the company asserted that the layoffs were necessary for the company to become more nimble. In its bankruptcy filing, both liabilities and assets were listed. Their amounts ranged from a million dollars to $10 million.

Some steps can help one to survive financially after divorce

When people walk down the aisle, they typically do not anticipate getting divorced years down the road. However, unfortunately, a large number of marriages come to an end eventually. People in Massachusetts normally do not want to plan for divorce, but solid financial planning is essential at the beginning of the divorce process to protect against the negative financial impacts of this type of legal proceeding.

Adjusting one's lifestyle to fit one's new income following divorce is an important part of the divorce process. With the dissolution of a marriage typically comes a drop in household income. For this reason, knowing one's cash flow and being committed to living within one's means is essential for achieving financial success following divorce.

Caesars Chapter 11 bankruptcy reorganization plan approved

An entertainment company in another state recently announced that its reorganization plan has been approved by a bankruptcy court at the federal level. The company that filed for Chapter 11 bankruptcy protection is Caesars Entertainment Corp. The reorganization plan was created for the company's main operating unit. If a company in Massachusetts is facing financial challenges, Chapter 11 bankruptcy may be a viable solution.

The Caesars bankruptcy case involved a total debt amount of $18 billion. Under this plan, it will be possible for the company to get rid of $10 billion in debt. The company's plan is to separate all of its real property assets in the United States from the company's gaming operations.

Budgeting important following divorce

The process of dissolving a marriage in the state of Massachusetts is usually characterized by financial upheaval. This is true even for someone who is able to remain in the same job and keep the family home following the divorce proceeding. After all, even if one's bills remain the same, one's income may be cut in half.

One way in which to prepare for the financial roller coaster that generally comes with divorce is to create a brand new budget for the household. It is particularly essential to think beyond monthly expenses, including the utility bill and the mortgage. Considering one-time costs such as emergencies, vacations and weekend trips is also paramount.

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