Bankruptcy filings dropped by 23 percent in November, when a total of 706 cases were filed, in comparison to the same month last year, according to preliminary figures released by research firm Boletín de Puerto Rico Thursday.
Ponce-based Vassallo International Group, which manufactures, distributes and sells more than 6,000 different products for a wide range of applications and industries, has filed for Chapter 11 bankruptcy, citing nearly $9.8 million in debt.
The owners of Asian fusion restaurant Budatai, headed by renown Chef Roberto Treviño, have filed for Chapter 11 bankruptcy protection, citing more than $400,000 in debt, according to the documents on record at the U.S. Bankruptcy Court.