Reed Law Firm, P.A. is a federally designated debt relief agency. We proudly help people file for bankruptcy relief under the U.S. Bankruptcy Code.
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SOUTH CAROLINA
BANKRUPTCY ATTORNEY

May 2014 Archives

Advertising agency closes its doors after Chapter 7 filing

While the American economic landscape is recovering from the recession that began in 2008, many businesses are still feeling the effects of that tumultuous time. Both here in South Carolina and elsewhere across the nation, businesses are still facing financial challenges in the form of mounting debt. In response, some businesses, including the out-of-state advertising agency Meridian-Chiles, have chosen to file for Chapter 7 bankruptcy to meet these challenges.

County hospital files for Chapter 7

A hospital run by a not-for-profit agency is closing its doors this month, according to local business sources. Chapter 7 bankruptcy is a useful way for a struggling business to discharge debt, as some South Carolina owners can attest. In the case of this hospital, "insurmountable financial challenges" have led hospital administrators to move for bankruptcy in advance of rising debt.

Parent company for pharmaceutical giants file Chapter 7

Vestiq Holdings closed the doors on its two major properties, Vestiq Pharmaceuticals and Praelia Pharmaceuticals. The company, known to South Carolina residents as a major player in the pharmaceutical industry since 2013, filed for Chapter 7 bankruptcy, citing a multi-million dollar debt load. The filing took place in early May of this year.

Mental health facility files for Chapter 7

A nonprofit organization dedicated to improving mental health has filed for bankruptcy. The organization, which North Carolina residents understand represents an important tool in the ongoing work to improve mental health literacy and support, closed its doors three years ago. However, the company has entered Chapter 7 bankruptcy since it has been unable to pay its outstanding debts thus far.

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Reed Law Firm, P.A.
220 Stoneridge Drive,
Suite 301

Columbia, SC 29210

Phone: 803-726-4888
Fax: 803-726-4887
Columbia Law Office Map

Reed Law Firm, P.A.
1807 West Evans Street,
Suite B

Florence, SC 29501

Phone: 843-679-0077
Fax: 843-679-0667
Florence Law Office Map

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