Kansas City, MO, November 23, 2008 --(PR.com
)-- According to court records compiled by Jupiter eSources LLC, Chapter 11 business bankruptcies, including small, nonpublic companies, increased 16 percent in the first quarter of 2008.
Under Chapter 11 of U.S. bankruptcy law, a company seeks court protection from creditor lawsuits while working out a reorganization.
Some experts predict this is just the beginning of business bankruptcies. Reorganization plans could mean downsizing space or turning to less expensive options for storing records, equipment, merchandise or other supplies.
"Portable storage can rescue businesses that are in danger of going bankrupt or that are cutting costs while reorganizing their business," said John Finnessy, CMP, Executive Director of the National Portable Storage Association, or NPSA, a nonprofit membership association dedicated to the advancement of the portable storage industry. "Our members are ready with bailout plans that help companies maximize the space they are leasing, or downsize without headaches with low-cost portable storage units."
Portable storage units can be a godsend for companies plagued by mandates to save records, for example. Instead of storing those records in storage rooms within high-dollar commercial office space, portable storage units can be delivered on-site to keep those boxes safe and secure at a fraction of the cost. In the case of retailers, shop owners can transfer excess inventory to portable storage units and expand their showroom floor to maximize their net income per square foot.
"These are times where Darwin's survival of the fittest mantra seemed truer than ever," said NPSA Operations Manager Joel Rathbone. "Many businesses are struggling. The companies that find creative solutions to maximizing revenue will be among those that not only survive but also thrive. Portable storage can be one of those creative solutions for companies that are looking to streamline their business space."
For more information, visit www.npsa-us.org.
The National Portable Storage Association
The National Portable Storage Association is dedicated to the advancement of the portable storage industry. We at the NPSA are here to serve those in the portable storage industry who rent, sell or lease containers, trailers and mobile offices. The NPSA assists members with industry, regulatory and workforce issues; plus, offers members networking, marketing and legislative support at national, state and local levels.
Self Storage Promotions