Open Range Files For Chapter 11 – Denver Bankruptcy Attorney

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An internet service provider called Open Range Communications recently filed for chapter 11 bankruptcy. The company is located in Greenwood Village, Colorado and was secured by millions of federal dollars when it decided to file for bankruptcy. According to denverpost.com, after making numerous layoffs and no longer accepting new customers, the telecommunications company filed for chapter 11 bankruptcy. Chapter 11 bankruptcy is prominently used by corporate organizations and permits reorganization required under the bankruptcy laws of the United States. Chapter 11 bankruptcy also allows the organization to remain in power of its business operations. Open Range received 78 million dollars from the US Department of Agriculture Rural Utility Services and was only able to pay back 4.5 million dollars to the government. The company had originally aimed to reach 6 million customers but was only able to reach 20,000. Open Range declined to comment about the government loans and the bankruptcy and is currently looking for a buyer.

 

Has your business been affected by the economic downturn of our society? Contact a Denver chapter 11 bankruptcy attorney to further discuss your options.

 

With the economic hardships of the times, everyone is more cautious about their business finances. According to the United States Courts website, in 2010 the total number of chapter 11 bankruptcies filed was around 13,700. Of those filed, around 11,000 were businesses filing for chapter 11 bankruptcy. Knowing your options when deciding your next step is important and filing for chapter 11 bankruptcy is a decision that should not be considered lightly.

 

If your business is in trouble and you are considering bankruptcy as an option then you need the dependable services of a professional Denver chapter 11 bankruptcy attorney. Bankruptcy seems to be a taboo topic in our society and is often misunderstood. Filing for bankruptcy does not mean your business is irresponsible and many businesses are able to bounce back from a discharged bankruptcy claim. Filing for bankruptcy is often a very confusing process. Chapter 11 bankruptcy attorney Jane Roberson is experienced in bankruptcy law and can help you make your decision less stressful. For more information and a FREE CONSULTATION, contact Jane Roberson at The Law Offices of Custer Roberson at (720)457-1822.


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