American Apparel Close to Bankruptcy

American Apparel clothing has announced that weak business and loans may lead the company to file for bankruptcy as they may not have sufficient liquidity necessary to continue operating for the next twelve months. The company's second-quarter losses are likely to be somewhere between $5 million and $7 million. Now, the company has more than $91 million in debt.   

It's never easy to find yourself in the position of needing to file for bankruptcy no matter where you are in life. However, it's important to understand that filing for bankruptcy does not have to be the end, but can be a chance at a new beginning. You need to know that you do have rights to protect during this difficult time, but can do so when you know how to handle your case. You will be able to recover from this difficult part of your life.

By working with a bankruptcy lawyer, you will be able to resolve this matter in the most beneficial and timely manner. You can count on an attorney to know how to approach your specific situation and be able to guide you through it. A lawyer will always have your best interest in mind while fighting for your rights. Please take some time today to contact a bankruptcy attorney today to begin discussing the details of your case.