The week in bankruptcies: 1 entity in Greater Washington

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.

During the week that ended Oct. 9, Washington-area bankruptcy courts recorded one business filing. Year to date through Oct. 9, the court recorded 86 Chapter 7 or Chapter 11 business bankruptcy filings, a 33% 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.

Serendipity Quilting Studio Inc. filed for voluntary Chapter 7 bankruptcy protection Sept. 22, 2020, in the Eastern District of Virginia.

The debtor listed an address of 2224 Tacketts Mill Drive in Woodbridge, and is represented in court by attorney Richard G. Hall. Serendipity Quilting Studio Inc. listed assets up…

Read the full story from the Washington Business Journal.

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