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Mobile retailer Wirefly reportedly filing for Chapter 7

The business word can be very competitive and many times companies can’t keep up with the competition. When a company in Tampa is unable to meet the financial demands of doing business, it might have to consider filing for bankruptcy. However, most companies considering bankruptcy, usually file for Chapter 11 or Chapter 13, which allows for the company to try to stay open while it sorts things out. A Chapter 7 Bankruptcy, on the other hand, usually means that a company is calling it quits.

According to reports, mobile phone retailer Wirefly has apparently shut its doors for good and is filing for Chapter 7 bankruptcy. The company’s website is no longer functioning and reportedly several employees of Simplexity, Wirefly’s parent company, have turned to social media to express their new job status. Simplexity employees appear to have been blindsided by the sudden closure as they claim they were given no warning.

Although there has yet to be an official announcement from Simplexity, or Wirefly, according to reports, one customer was able to ascertain via Facebook, from a company representative, that the company has filed for Chapter 7 bankruptcy. This has left many customers wondering about their orders and refunds, as well as many workers looking for new employment.

If it’s true that Wirefly is filing for Chapter 7, then that would most likely indicate that the company has decided to liquidate all of its assets and shut its doors permanently. If you find yourself in a financial situation that leads you to consider bankruptcy, then you might want to speak with a knowledgeable bankruptcy attorney as soon as you can.

Source: Android Community, “Wirefly suddenly closes up shop, will be filing Chapter 7 bankruptcy,” Nate Swanner, Mar. 13, 2014

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