Albuquerque area bankruptcy courts recorded one business filing — including zero with total debt above $1 million — during the week that ended July 30, 2021. Year to date through July 30, 2021, the court recorded eight Chapter 7 or Chapter 11 business bankruptcy filings, a 58% decrease from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure…
Source: The Business Journal
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