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Art Van Furniture Inc. was an American furniture retail store chain, with stores across the Midwestern United States. Founded in 1959, the company was headquartered in Warren, Michigan, and claimed to be the largest furniture retailer in the Midwest at its peak. [ 1 ] In 2020, the company filed for bankruptcy and closed all of its stores.
t. e. Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
Borders store closing, Pittsfield Township, Michigan. On February 16, 2011, the company announced that it had filed for Chapter 11 bankruptcy protection, listing $1.275 billion in assets and $1.293 billion in debts in its filing. [54] [55] The company also announced the liquidation and closing of 226 stores. [56]
Chapter 7 bankruptcy can aid in getting a family court order to dismiss child support and alimony payments. There’s no debt limit to qualify. The major downside to Chapter 7 bankruptcy is ...
There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances. Use alternatives like ...
v. t. e. Chapter 9, Title 11, United States Code is a chapter of the United States Bankruptcy Code, available exclusively to municipalities and assisting them in the restructuring of their debt. On July 18, 2013, Detroit, Michigan became the largest city in the history of the United States to file for Chapter 9 bankruptcy protection.
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