Restructuring

With fantasy football leagues across the country kicking off this Labor Day weekend, we thought we’d run our own matchup. Memorial Day versus Labor Day. Mano-a-Mano. May the better holiday win.
Interestingly, many Americans view Memorial Day as the start of the summer season, with Labor Day kicking the country back up into high gear. Come Labor Day, no more white summer outfits. Everyone back to work.
It would seem, however, that the numbers tell a different tale. Chapter 11 filings the day after Memorial Day dwarf those the day after Labor Day. Take a look for yourself! And as for chapter 11 filings on Labor Day itself…don’t even ask.  None in 2001 and 2002. Three in 2003. One in 2004. Three in 2005. The numbers spike up slightly after that – 62 filings from 2006 to 2010 on Labor Day itself. And that’s in the whole country!
Trust the numbers: America really takes Labor Day seriously as a holiday, at least when it comes to chapter 11 filings. In any event, we’ll be taking Labor Day seriously too, but we’ll be losing our summer whites and donning our Weil greens for the beginning of the fall blog season from Tuesday. So put away your Bankruptcy Beach Reading (which we sincerely hoped you enjoyed as much as us this summer) and get ready to get back to work. But not until tomorrow.  Today is a holiday.