Oreck Files Bankruptcy

Everyone has heard the commercials for the Oreck Vacuum cleaner. They are lightweight and clean as well as the heavy cleaners. Unfortunately, however Oreck’s are little higher priced than the average cleaner. With the job market the way it is, people are focusing more on bargain equipment. The vacuum that is selling is the lower priced Shark sold at Target and Wal-Mart stores. Orecks are sold at independent stores at a pretty high price.

Oreck has filed Chapter 11 bankruptcy. What that means is that they intend to be around as a company, but need to refinance or sell the company to someone with deeper pockets so that they can be around for future purchasers. Many companies file Chapter 11 bankruptcy cases simply because of cash flow issues.

If you are having difficulty with your cash flow, it is a good idea to seek professional help and see a qualified bankruptcy attorney. Most good bankruptcy attorneys will give you a free consultation at no risk. You then can decide if you need the professional help.

Please schedule a free initial consultation by calling us toll free at 800-215-9089. If you prefer, you can also fill out our intake form and we contact you to schedule a consultation.