Restructuring

(We start with the chorus so you don’t have to remember all those reindeer)
Weil, the Bankruptcy Blog
Blogging on everything we know.
And if you ever read it,
Our expertise really shows.
All of the other law blogs
Have pretty good stuff too.
They never match Weil’s Blog, though,
In bringing insight to you.
Then come pesky holidays
When our associates say:
“I’ve got to run and catch my flight,
So I won’t have a post tonight!
Although our readers will miss us,
And it may be hard to bear
Weil’s Blog is going on holiday.
We’ll be back again next year!
What does Rudolph the Red-Nosed Reindeer have to do with bankruptcy?
According to Wikipedia, in 1939, the Montgomery Ward department store chain commissioned Robert L. May to create Rudolph.  The retailer hoped to save money by creating its own book to give away at Christmas instead of the coloring books it had been buying and distributing.  Unfortunately, Rudolph was not a permanent solution to Montgomery Ward’s problems.  In 1997, Montgomery Ward filed for chapter 11 protection.  Montgomery Ward emerged from chapter 11 in 1999, but lower-than-expected sales during the 2000 Christmas season caused Montgomery Ward to file its second bankruptcy case and close its remaining retail outlets.