Matthew T. Berry Bankruptcy Law Blog on Lawyers.com

Chapter 7 Bankruptcy in Atlanta is becoming an all too common reality for thousands of companies across the country. Coming as a surprise to almost everyone, the housing market bottoming out and large banks going out of business has created a ripple effect that has touched almost everyone, even the wealthy. The bad economic situation is resonating with businesses in every community, including a local company, Wood Structures. Almost 200 people lost their jobs with the closing of its manufacturing plant and corporate offices in Biddeford.

As a manufacturer and distributor of wood products for over 40 years, workers were first told that they may not get paid, but when the company was unable to reach an agreement with its creditors, it was forced to liquidate its assets.

The company sold to lumberyards in New England, has been struggling because of the horrible housing market. Unbelievable as it may sound; home starts are down 63 percent since 2005 in the area.

"That's the thing that really hurts," said the CEO. "These people worked really hard and then this happened. We were a family here, and now it's like the family is disbanding."

Wood Structures got its start in 1966. It once had the largest market share in the region and now it’s completely gone.

If you are seeking the advice of a bankruptcy attorney or need to know the laws as it pertains to your situation, get in touch with our attorneys. We can help with your personal bankruptcy in Atlanta.

Berry & Associates - Chapter 7 in Atlanta

2751 Buford Hwy, Atlanta, GA 30324
Phone : 1-877-715-0306

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