Bankruptcies Rising in Consumer Products Sector
Tom Biron recently spoke with the Philadelphia Inquirer concerning the up-tick in bankruptcy filings and the credit market. Law firms are now increasing their personnel to accommodate the load.
Mr. Biron said that Blank Rome began noticing an increase in bankruptcy filings in 2006, most often with companies providing consumer products, and that the work has increased since then.
Mr. Biron said the credit crunch was even hammering firms once they had filed for bankruptcy, because they often could not get the credit they needed to make it through the reorganization.
“Bankruptcy Lawyers See Rise in Business Clients” by Chris Mondics appeared in the Philadelphia Inquirer on October 7, 2008. For the full article, please visit www.philly.com.