Charlotte-area bankruptcy courts recorded one business filing, including zero with total debt above $1 million, during the week that ended Feb. 25. Year to date through Feb. 25, the court recorded two Chapter 7 or Chapter 11 business bankruptcy filings, a 71% 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 its creditor…

Charlotte-area bankruptcy courts recorded one business filing, including zero with total debt above $1 million, during the week that ended Feb. 25. Year to date through Feb. 25, the court recorded two Chapter 7 or Chapter 11 business bankruptcy filings, a 71% 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 its creditor… Read MoreCharlotte Business News – Local Charlotte News | Charlotte Business Journal