Companies both large and small are being affected by the lagging economy, including a couple-owned business based out of Nebraska.

The company, which manufactures outdoor wood furnaces, was forced to file for Chapter 7 bankruptcy this week, listing profits of $209,005.88 and liabilities worth $546,749.56. Employing just 12 people, the bankruptcy is not creating ripples nationwide. However, it did come as a shock to those employees and loyal customers who had come to enjoy and rely on their product.

After the one government agency determined that the way in which outdoor wood furnaces are tested is flawed, the company was forced to either redesign the existing products or close its doors. Since all testing would be done at the company's expense, the owners determined that the cost of testing would outweigh the cost of production and future sales.

If your company is currently in the red, you may want to consider your bankruptcy options. Contact the Malaise Law Firm to discuss solutions with a South Texas bankruptcy attorney.