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 Sept. 10, Washington-area bankruptcy courts recorded three business filings, including two with total debts above $1 million. Year to date through Sept. 10, the court recorded 85 Chapter 7 or Chapter 11 business bankruptcy filings, a 2% increase 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.
Subach Spinal Solutions PLC filed for voluntary Chapter 7 bankruptcy protection September 3, 2021, in the Eastern District of Virginia.
The debtor listed an address of 7902 Tysons I Place #2903, McLean, and is represented in court by attorney Richard Owen Bolger.…
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