We’re hoping for a hugely successful chapter 11 reorganization for an iconic restaurant chain. Red Lobster filed for chapter 11 yesterday in the Middle District of Florida. Amid some store closures and a lot of public obituaries, there is still a substantial business that hopefully can be reorganized and to thrive again. Many Floridians are […]
We’re been following the ongoing issue of pool building companies filing for bankruptcy. The pool business is struggling with higher labor and material costs, a higher interest rate environment and a slow housing market. While this is part of the cyclical Florida economy, some pool companies don’t have any financial cushion and customer deposits become […]
We’re watching the storms gather around Florida residential property associations – homeowners associations (HOAs), condo management boards – that represent millions of Florida homeowners. One of our clients experienced the impact of Hurricane Idalia that hit the panhandle in 2023. We’ve read the stories about the aftermath. Lots of demand on construction services to rebuild, […]
The Atlanta Federal Reserve Beige Book for January, 2024 shows a continuation of existing trends. The economy remains on substantially solid footing but the persistence of high interest rates is squeezing a lot of companies whose business models were built on cheaper capital.Florida Outlook for Chapter 11The consumer segment is very strong after a reasonably […]
We’ve seen our share of challenges in the newspaper business and have been following the difficulties in our backyard with the Tampa Bay Times still trying to fight off an unpayable debt to the Pension Benefit Guaranty Corporation. The television business has managed to stave off the same challenges for years and the bill is […]
,725,625, the limit was increased to .5 million by the CARES Act. Subchapter V provides an efficient and cost-effective alternative to traditional Chapter 11 bankruptcy, making it more accessible for small businesses. It allows debtors to spread their debt over three to five years, pays creditors with disposable income, and most notably waives the absolute […]
The Atlanta Federal Reserve Beige Book for July, 2023, ahead of the Fed’s quarterly meeting, was mostly upbeat. The economic activity in the Sixth District, spanning from mid-May to June, exhibited measured growth. Labor availability and retention improved, and wage pressures began to ease. Nonlabor costs were stabilizing, and pricing power varied. While retail sales […]
The owner of Olympus Pools, a once-prominent pool construction company, has been arrested on 34 counts related to alleged fraud. James Staten, the company’s owner, surrendered himself to the Pasco County jail following a comprehensive investigation triggered by the WFLA investigative team. The charges include aggravated white-collar crime, organized scheme to defraud, grand theft, contractor […]
In recent times, the freight transportation industry has been hit hard by a series of significant bankruptcies, underlining the complex challenges facing this vital sector. As the backbone of commerce, trucking and freight transportation are essential for global supply chains. However, as highlighted by these three cases, the economic landscape is far from stable, leading […]
The Atlanta Federal Reserve is reporting modest growth in its April Beige Book, with solid labor markets and consumer spending pretty strong – ahead of the pre-pandemic spending. We’re watching some broader trends in these numbers: Office building mortgages are vulnerable. The growing trend of employers mandating the return to office work has provided some […]
