Our Escondido readers probably know that smart business leaders often land upon an idea to match the right product with the right consumer, and the result is continuous or even increasing profit. For a small grocery store chain founded in California, known as Pro's Ranch Markets, that idea was to market Latin American food products throughout the Southwest, with stores in Texas, New Mexico and Arizona.
The West Coast, and California in particular, has been the focus of the so-called "green energy" revolution that is supposed to be taking place in America. Individuals and companies everywhere are trying to solve the riddle of how America will move on from the use of fossil fuels. Numerous solar energy companies have been founded in California, but unfortunately many go on to make news not because of the technological advances they make, but because so many have had to file for bankruptcy. Now, a green energy car company based in California, Coda Automotive, Inc., has joined that procession, having filed for Chapter 11 bankruptcy recently.
Many of our Escondido readers probably know that when a business is struggling financially there are often more questions than answers. In the ever-important task of expanding a customer base and making products more well-known a company could take on more debt than it can handle, forcing the business leaders into uncomfortable decisions in the future. Interestingly enough, however, according to a recent article the type of business in question may have an influence on one of the more pressing decisions that needs to be made: whether or not to file for bankruptcy - and which type of bankruptcy to pursue.
Escondido business leaders make important decisions every day. In the best case scenarios, hopefully those decisions are on how to re-invest profits into the business in order to expand a customer base and increase profit margins. However, the unfortunate reality of the current national economy means that many businesses are making much different decisions, including whether or not to file for bankruptcy.
Some of our Escondido readers may have seen a recent post here detailing the bankruptcy filing of the San Diego Hospice, one of the largest hospices in the country. The business filed for Chapter 11 bankruptcy in February, with what appeared to be an original intention to make some changes and continue on in operation. However, it does not look like that is an option any longer, and the business will be moving toward a complete shutdown. And, according to a recent report, this comes even as it has been revealed that an endowment fund of nearly $22 million exists as a separate entity to support the hospice.
When a business in Southern California is facing financial difficulties, there are many decisions to be made. Growing expenses and shrinking profits can lead to employees being laid off, or necessitate innovation to come up with a different product. However, for those companies who believe things can improve, but just a little bit of help is needed, a Chapter 11 bankruptcy filing may be the way to go.
Although there have been modest signs of economic improvement over the last several months, conditions are still less than optimal for many individuals and businesses throughout the country. The San Diego area is not immune to the economic challenges many are facing. One local business, the San Diego Hospice, was facing significant financial challenges in part due to federal investigations and Medicare concerns, which led the company to recently file for Chapter 11 bankruptcy protection.
Most of our Escondido readers have probably heard of the video game company Atari. The company first became well-known back in the 1980's, producing such early gaming hits as Pitfall and Pong. However, as some of the more well-funded game consoles, such as Sega, Playstation and Xbox, began to be released in the 1990's, Atari could not quite keep up. The brand endured though, and continued to be involved in video game development. But, it looks like Atari has run into more hard times, as the company recently filed for Chapter 11 bankruptcy protection.
Our Escondido readers who are familiar with previous posts here may know that Eastman Kodak, once the premier business in all of photography, is currently going through bankruptcy. The one-time mega-company filed for Chapter 11 bankruptcy protection back in 2011, and will continue to go through the required steps as 2013 begins. And, according to a recent report, Eastman Kodak took another step recently which will hopefully put it one step closer to emerging from the Chapter 11 process.
A new year means a new beginning for one of the largest media companies in America. Some of our readers may remember previous posts here detailing the long, complicated Chapter 11 bankruptcy process that Tribune Co. has been going through for the last four years. The company has spent years going through the ups and downs of the Chapter 11 process, but successfully emerged on December 31 of 2012.