The week in bankruptcies: Happy Dog Cafe and Boutique Inc. and Electronic Tech Inc.

Charlotte-area bankruptcy courts recorded two business filings, including zero with total debt above $1 million, during the week that ended June 19. Year to date through June 19, the court recorded 15 Chapter 7 or Chapter 11 business bankruptcy filings, a 200% increase from the same span the prior year. Chapter 7 bankruptcy protection typically provides for the liquidation of a business’ assets to satisfy creditor claims, while Chapter 11 protection enables a business to restructure its creditor…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2020/06/26/the-week-in-bankruptcies-happy-dog-cafe-and-boutique-inc-and-electronic-tech-inc.html?ana=RSS&s=article_search