Even after hard times fall upon a community, some businesses will do whatever they can to keep their doors open. This is especially true for companies that have been in business for a long time and want to hold onto their legacy. One way for a company in New Jersey that is struggling financially to keep operating is by filing for Chapter 11 bankruptcy protection.
To hold onto its 150-year legacy, Renault Winery Resort and Golf recently announced that it would be filing for Chapter 11. According to the company's CEO, Renault will not be closing its doors while undergoing the process. The beautiful resort is also recognized in New Jersey as a historic landmark. Through this bankruptcy protection, he believes that the company will be ensuring its future.