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Case 2010566MFWDoc 296Filed 04/16/20Page 1 of 17IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
In re:
BLUES TEM BRANDS, INC., et al.,
Debtors.1)))))))Chapter 11
Case No. 2010566
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Chapter 11 is a section of the United States Bankruptcy Code that allows companies to reorganize their debts and assets while continuing to operate their business.
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Businesses that are struggling financially and need protection from creditors while they restructure their debts.
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To file for Chapter 11 bankruptcy, a business must submit a petition to the bankruptcy court along with a proposed plan for reorganization.
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The purpose of Chapter 11 bankruptcy is to give businesses a chance to restructure their debts and continue operating, while also providing a fair process for creditors to receive payment.
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Businesses must report their financial statements, list of creditors, proposed plan for reorganization, and other relevant financial information.
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