Some North Carolina businesses may still be feeling the effects of the recession. A company that owns real estate could find itself facing a business foreclosure due to an inability to recover from the economic hardship felt by consumers and businesses alike. A foreclosure could cause irreparable harm to a business struggling to get back on its feet. Certainly, it may be beneficial to explore alternatives.
On Nov. 27, First Citizens Bank foreclosed upon New Friends Adult Day Health, an adult day care center located in east Charlotte. The company, which is owned by Walker Investment Holdings, is now in the process of finding a new home. The facility is one of 11 adult day care or day health centers located in Mecklenburg County. It has approximately 10 employees and assists approximately 30 clients.
Small business owners in North Carolina know that they face the risk of falling into debt they can't repay. Filing for bankruptcy, whether it is for personal debts or business debts or both, is never an easy step to take. But in business foreclosure, it can be the right move to put a failed venture behind a business owner before moving on to new enterprises. It's important, however, to take the right steps when choosing this financial path.
FAYETTEVILLE, NC - Attorney Rebecca Britton, managing partner of Britton Law, P.A., announced today that John H. Britton has joined the firm as a partner.