| Timon |
08-13-2003 05:33 AM |
Quote:
Penthouse has filed for relief under Chapter 11 in New York state.
Many people misunderstand bankruptcy, and conflate it with going out of business. Bankruptcy is a system that allows corporations to get protection from their creditors and to get new financing in order to restructure and grow their business.
Bankruptcy, although it often carries a stigma in most people’s minds, is a system which allows companies to have a fresh start and more fully realize their potential.
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"Bankruptcy is a system which allows companies to have a fresh start and more fully realize their potential"
<sarcasm>
Damn, I never looked at it that way :-)
</sarcasm>
Last edited by Timon at Aug 13 2003, 08:08 AM |
