Discounted women apparel store Dots LLC have filed for bankruptcy protection on Monday, January 20, an article by the Cleveland.com said.

The company, owned by New York-based Irving Place Capital, filed Chapter 11 bankruptcy for them to reorganize their marketing strategy and to be able to find an investor. Company’s Chief Executive Lisa Rhodes said in a statement that the bankruptcy filing is needed in order to overhaul the business structure of Dots. Rhodes also said that the company has been struggling financially due to unstable economy and failed marketing changes. Dots which have at least 400 stores in 28 states will have to close 36 stores as part of the reorganization plan.

Filing for bankruptcy can be the best way for your ailing business in order for it to recover. If you are considering filing for Chapter 11 in Houston, the legal team at Law Office of Russell Van Beustring P.C. may help you with the process. Call 713-973-6650 today to find out how we may help you.        

Struggling camera company Ritz Camera filed for Chapter 11 bankruptcy protection for the second time in three years on Friday. The Beltsville-based business claims it has more than $50 million in liabilities.

Despite seeing a 20 percent increase in sales in May and getting an $8 million investment from Transcom Capital in 2009, Ritz officials say it was not enough to maintain operations. Competition from camera phones has weakened camera and camera equipment sales.

According to the Washington Post, Ritz plans on closing 128 of its 265 retail locations that are under-performing and laying off half of its staff. It is expected to be up for auction in September.

If your business is considering filing for Chapter 11 bankruptcy, contact the Chapter 11 bankruptcy lawyers from the Law Office of Russell Van Beustring, P.C. by calling 713-973-6650.