Support Local Business – Buy them out of bankruptcy!

After a month-long break that had me speaking at 2 conferences, entertaining family visits, writing a final exam, and (most importantly) taking a vacation to Spain and Portugal, the blog is back. To kick off the summer preview, today’s topic is supporting local business.

The WSJ Bankruptcy Beat reports that local investors are helping out bankrupt businesses in California and Wisconsin.

In California – a state flush with debt but low on cash - the Pasadena Playhouse will be resurrected by its patrons. The Playhouse filed its Chapter 11 plan of reorganization late last week.  The plan calls for patron donations to pay off the priority, administrative, and secured claims in full. Since the Playhouse has a storied history in California and is beloved by local theatre-goers, this plan might just work.  Moreover, since local and state government’s have little interest in supporting the arts, this is perhaps the only way a plan to save the Playhouse would work.  The stage has been dark since February, and this high school drama geek hopes that new productions will soon bring back light and life to the stage.

In the upper Midwest, struggling businesses need a candyman. It appears that one in Wisconsin has found just that.

The bankruptcy court in Milwaukee has approved the sale of Quality Candy and Buddy Squirrel to local investors.  The investors have promised to keep the candy operation up and running (to the delight of dentists).  A win-win for Wisconsin sweet tooths and the bankrupt company. I just wonder what is a “Buddy Squirrel” – maybe it’s better not to ask.

The blog is back in business – aiming to put out more content due to subscriber demand.