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SkyMall’s Parent Company Files for Bankruptcy

Bankruptcy Attorney_Murfreesboro_SkymalAirplane shopping magazine SkyMall may be going away for good now that its parent company, Xhibit, has filed for Chapter 11 bankruptcy.

The company, which made its fortune selling a wide variety of products through magazines provided on airplanes, met hard times as airlines announced that they would no longer carry the printed magazines.

Xhibit, the parent company, stated in the bankruptcy filing that it couldn’t keep up with competitors. SkyMall boasted an extremely wide range of products, while its main competitors kept their focus on a narrow spectrum, allowing them to win the niche market.

In the filing, Xhibit listed assets of $1 million to $10 million, while its liabilities were listed as $10 million to $50 million.  US Airways, American Airlines, and Delta were listed among its creditors.

For SkyMall specifically, debtors are estimating its total creditor claims to be approximately $12 million, according to the filing.

If you’ve fallen on hard times and can’t seem to keep ahead of the creditor calls, it may be time to file for bankruptcy.  Rather than being a scary, soul-crushing process, bankruptcy is actually a wonderfully beneficial way to protect your home and property while reorganizing your debt into a manageable payment plan.  Additionally, you might also qualify to have many unsecured debts, such as medical bills and credit card payments, wiped away completely.

Don’t live in unmanageable debt another day.  Call us right away to speak with a specialized bankruptcy attorney and see how we can help you finally regain your financial freedom.

Call (615) 898-0607

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