Bankruptcy Filings Down 55% in Northern District of Illinois.

In the Northern district of Illinois, Bankruptcy filings in April of 2021 are down 55% from April of 2019, the last year for which filings were not affected by the pandemic. The April figures continue the trend of bankruptcies being down for this calendar year (by 54% through April 30th) when compared to 2019. Difficulties in pursuing credit and collections lawsuits in through the Illinois courts, limitations on moving forward with foreclosures and evictions, and the effects of government … [Read more...]

Columbia House Files for Bankruptcy

Unable to keep pace with modern media subscription services like iTunes and Netflix, Columbia House filed for bankruptcy this week. The former media powerhouse thrived in the ‘90s with its popular mail-based sales promotion offering 12 CDs for a penny. Once digital music started to dominate CD sales, the company switched its strategy to selling DVDs and movie streaming services. With steep competition from Netflix and Amazon subscription services, the company was struggling to survive. At its … [Read more...]