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 Nov. 13, Washington-area bankruptcy courts recorded seven business filings, including one with total debt above $1 million. Year to date through Nov. 13, the court recorded 109 Chapter 7 or Chapter 11 business bankruptcy filings, a 22% 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.
ClubX LLC filed for voluntary Chapter 7 bankruptcy protection Nov. 5 in the Eastern District of Virginia.
The debtor listed an address of c/o David C. Canfield 2311 Wilson Blvd., #500, Arlington, and is represented in court by attorney Steven B. Ramsdell. ClubX…Read the full story from the Washington Business Journal.