The Washington Business Journal offers a weekly roundup of bankruptcy filings in the region based on public records collected by parent company American City Business Journals.
For the week that ended April 3, Washington-area bankruptcy courts recorded two business filings. Year to date through April 3, the court recorded 34 Chapter 7 or Chapter 11 business bankruptcy filings, a 6% 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 obligations with the goal to remain a going concern.
Carol M. Highsmith Photography Inc. filed for voluntary Chapter 7 bankruptcy protection March 26 in the District of Maryland.
The debtor listed an address of 7501 Carroll Ave. in Takoma Park, and is represented in court by attorney Brent C. Strickland. Carol M. Highsmith Photography Inc. listed assets up to $46,000…Read the full story from the Washington Business Journal.