Bankruptcy

Fraser Papers Files for Bankruptcy Protection

By writer

Fraser papers is has recently announced it will seek Chapter 15 bankruptcy protection in Canada and the United States. The filing is the result of sinking selling prices and the decreasing demand for pulp and lumber as well as the outstanding debt repayments that could not be made without assistance. The company hopes to successfully re-structure in the next several years and avoid going out of business.

Fraser Papers Inc. is a Canadian paper manufacturer with a large customer base in the United States. Fraser presently has around 3,700 employees, many of whom are currently scared of losing their jobs if the re-structure attempts fail. These employees work in North American locations such as New Hampshire and Maine as well as in Canadian regions like Quebec and New Brunswick. If the company were to go under, many of the former employees might seek personal bankruptcy protection for themselves and their families.

Contrary to popular belief, bankruptcy isn?t about giving up; it?s about new beginnings. It?s possible for individuals like you to successfully re-structure your personal debts and get your finances back under control. This can be accomplished through a chapter 13 bankruptcy filing. A successful chapter 7 or chapter 13 bankruptcy filing can help get you out of debt and offer you the fresh start you?ve been waiting for. Contact a Legal Helpers attorney right now for a free evaluation.

Full post as published by Consumer Bankruptcy Blog from Legal Helpers on July 30, 2009 (boomark / email).