Southern District of Texas (which includes Houston) business chapter 11 bankruptcy filings ranked third highest in the U.S., only behind Delaware, Southern District of New York, and Northern District of Texas. One reason for this is because of the energy, health, retail, and hospitality. When some of these companies files bankruptcy, often they file with dozens of other companies they work with, and consolidate the cases into one. Just last month, here in Houston, the mass media giant iheartmed
ia filed bankruptcy with over $10 billion dollars in debt.
We are the Rashid Law Firm do not practice business bankruptcy under chapter 11, but we do personal consumer bankruptcies and sometimes they include people who have had business that have closed or have small businesses that are still open.