Chapter 11
Chapter 11 filings allow companies to reorganize in response to situations such as the current economic pressures and are a proven process that many 'brand name' companies have used to gain breathing room from some financial pressures while working to strengthen and revitalize their businesses.
Chapter 11 Filing: Domain Home Furnishings
Domain Home Furnishings announced on 1/18/2008 that the Company has filed a voluntary petition to reorganize under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court, District of Delaware. Under Chapter 11, Domain will continue to operate its businesses under Court protection from creditors, while seeking to develop and implement a reorganization plan.