One after another, locations of the chain restaurant Scotty’s Brewhouse continue to close their doors, according to the IndyStar. They are having serious trouble finding the right way forward with the increased competition, the demand for delivery, technological advances, and providing an authentic experience. As such, the chain is in serious trouble and the future is looking bleak.
In the midst of all the closing locations, other restaurants are trying to take advantage of the situation by hiring their laid-off employees and even creating promotions that use the drowning business’s misfortune to their benefit. Bubba’s 22 in Fishers, is actually telling the public that anyone who has a gift card from Scotty’s can bring it in and receive a free pizza or appetizer certificate to their restaurant in exchange.
When customers go to Scotty’s, they are seeing posted announcements like the one at the Butler University location in Indianapolis. These announcements state that the majority owner was ending operations of the Scotty’s chain as well as those with the Thr3e Wise Men Brewing Co.
In December, Scotty’s filed Chapter II bankruptcy, or “reorganization bankruptcy,” throughout the Midwest. Even though the outlook appears dark for the company, the final result is still unclear. The IndyStar paper did find other Scotty’s locations that were still operating in Ohio and Illinois.
Companies and individuals who are having difficulty paying their mounting bills can declare bankruptcy, which is essentially a court proceeding. A judge and a court trustee look at all expenses and assets to decide whether or not the business or entity should be set free from its legal requirement to pay outstanding bills.
Bankruptcy exists to help those who are in financial distress and provide them with a second chance at a clean slate. Most often, these distressed individuals and businesses find success in obtaining this clean slate from the courts. In 2016, it was found that over 95% of the Chapter 7 bankruptcies declared were granted the ability to legally be absolved of their debts.
Finding a Bankruptcy Lawyer in Indiana
Individuals and businesses who have to face the decision of whether or not to declare bankruptcy are under tremendous stress and pressure. Having mounting bills that are overwhelming and a lack of resources to pay them is extremely difficult and challenging for anyone. Bankruptcy can be a navigable way out of that tense scenario and provide individuals and businesses with the ability to see “the light at the end of the tunnel.”
The immense pressure you feel bogging you down when you are financially strained can be overcome with bankruptcy. There are options for everyone, and in order to determine the best course of action, you should speak with a dedicated and expert Indiana bankruptcy attorney.
Christopher L. Arrington, P.C. can help you with your financial well-being and provide you options and pathways that are right for your circumstances. As a resourceful and efficient Danville bankruptcy lawyer, I have compassion for your situation and I will guide you through every step of the bankruptcy process. Call my Danville bankruptcy law firm at 317-745-4494 today and alleviate the mounting pressure that debt can bring.