How Chapter 11 Bankruptcy Could Help Revive Struggling Cupcake Chain

Filing for bankruptcy is a very serious financial decision. It is important you have a chapter 7 attorney on your side. Filing for bankruptcy without an attorney is risky. Help is available and you should take advantage of it.

As a debtor in a bankruptcy case, there is a list of things that you are responsible for. It can be very overwhelming to keep up with all of it. Many debtors wind up getting their bankruptcy cases dismissed because they miss an important deadline.

A bankruptcy attorney helps you to stay on top of things. They frequently check bankruptcy filings to ensure that nothing was missed. They provide advice to you to help you better understand the process and your rights as a debtor.

Bankruptcy can help you to get a fresh start, but there are some debts that are not discharged in bankruptcy. An attorney can advise you about things like chapter 7 and student loans and whether the discharge of that type of debt is an option.

Even if you have already filed, it may not be too late to get some help. A bankruptcy attorney can do a bankruptcy chapter 7 case number search and take a look at your case and make corrections.

People don’t often realize that they may need some assistance from bankruptcy lawyers until they are fairly far down the path of needing this help. The problem is that many do not want to even think about a chapter 7 bankruptcy because it has so much stigma attached to it. That said, the truth is that there are millions of active bankruptcies in the United States alone, and most people are not talking about them because they don’t want to feel the embarrassment or shame that could come with this.

All types of bankruptcies come with some downsides to them of course. You don’t get to walk away completely unharmed in terms of your credit, but you should still ask yourself am I eligible for chapter 7 bankruptcy if you feel that the pressures of your debts have come down on you in such a way that there is simply no hope that you will be able to keep up. In those scenarios, it is completely reasonable to ask yourself what your next steps are and how you can get yourself into a courtroom and moving towards a more useful way to resolve your debts and get things taken care of once and for all.

On Friday, July 11, cupcake chain Crumbs Bake Shop filed Chapter 11 bankruptcy after closing dozens of its store locations earlier in the week.

According to a July 12 Time article, Crumbs intends to use its bankruptcy as a way to sell its business to a large investor group and eventually reopen its business, which primarily offered high-end, specialty cupcakes.

And according to the Los Angeles Times, a financier group including CNBC star Marcus Lemonis and Fischer Enterprises, which bailed Dippin’ Dots out of bankruptcy in 2012, is already planning to revive Crumbs and make its business model more sustainable.

“The company has limited cash, and we are trying to come up with a situation that allows the company to remain viable,” Lemonis told the Los Angeles Times. “We are in the final stages of working on a plan to get the stores reopened and people rehired.”

Part of the business overhaul that Lemonis and Fischer Enterprises are planning is to make Crumbs more than just a shop that sells pricey, over-sized cupcakes. This includes an expansion of Crumbs’ offerings to include other sweets and coffee offerings, the Los Angeles Times reports.

“My main goal is to rescue the business,” Lemonis said. “I truly believe in the brand.”

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