The Wall Street Journal reports that Bennigan’s restaurant and Steak & Ale have filed for Chapter 7 bankruptcy today and are going out of business, closing numerous stores and releasing thousands of employees. It happened with very little warning, store managers getting calls last night, not to open today. Apparently franchise owned stores may stay open.
Will I lose all my property if I file for Bankruptcy in Texas? For most people living in Texas, bankruptcy does not mean that you will lose your property. For most Texans, Chapter 7 results in losing only your debts.
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