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-- faces of the recession recession hit and everybody.
Company bankruptcy -- you know our way up more than 50% from last year and the trickle down effect.
Hurting a lot of small business owners are roundtable -- our our vendors and they haven't gotten paid by the larger companies that.
Owes them a lot of money in some cases because the big companies are going bankrupt David Cooper Thomas Perino and Anthony for fair and -- all during -- -- -- David.
Fortune off a big retailer here in New York City area went bankrupt you or a jeweler.
How much did they -- you -- -- -- -- -- Of the between the two bankruptcies -- -- 170000.
Dollars and that is money that you can expect.
See how much of nothing.
Basically -- Thomas your your in the demolition -- yes.
You were called and make room for new the new building.
And they came in they -- -- you took it out this next guy actually put up the sheet rock.
That company has not paid you how much today only -- of stuff.
Mouse and you're you're a little guy you're not a big guy you know we we were very small company and how much you wearing -- for 36000.
We here in the hole and how many employees via at this point I had to scale back and down to about ten.
It -- a small business like you've got when you're in the hole for so much what is that -- you.
You got -- restructure the way you move forward I mean you get new projects and those new projects you've gotta fund.
You gotta you gotta pay your backs to back stuff that's sure foam because of this bankruptcy.
The data one of the problems I would imagine is if it you that you you're in the business you're you're giving your product to somebody else.
Expecting to get paid eventually every time some jewelry goes out of your business you think it.
-- from going to see them one.
All the credit risk is extreme right now the problem is that extending credit to anyone is -- true gamble previously aware companies say that we go back over thirty years -- like fortune off.
Where you could extend trust to in credit.
Turn their back -- because they were controlled by NRDC who also owns a Lord & Taylor you know and Hudson bay and the large companies corporations do not care about anything but profit and right people are not important.
And time you know we we hear about big companies going bankrupt but sometimes we don't think about the people the companies they owe money to like -- -- -- -- it affects everybody affects everybody from myself on down.
All the way down to the deemed low level employees low level employees you know it's hard it's you know we've got -- -- attacks -- got to pay the insurance is that doesn't go away once we make payroll was stopped for all those expenditures and it -- -- do you understand the -- the company is in that it's going to accept who we can't pay you we get ourselves.
Yeah I mean unfortunately it's a trickle down effect -- -- all right.
It is a trickle down effect and coming up in just a moment of the judges come -- and to talk about.
Any legal remedies that you guys might have and the chance of actually getting some money.
Faces of the recession continues.
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