G
GregoryPalamas
Guest
Tan Books is in financial troubleforums.catholic-convert.com/templates/fisubsilversh/images/lang_english/icon_quote.gifforums.catholic-convert.com/templates/fisubsilversh/images/icon_up.gif forums.catholic-convert.com/templates/fisubsilversh/images/icon_report.gifHere are a few portions of an e-mail they sent me
*This is one of the two most distressing letters I have ever had to write you. On February 18, 2005, TAN once again had to file for protection under Chapter 11 Bankruptcy law!
As a result, we are in a very dangerous situation during the next 4 to 8 months while the Chapter 11 filing is in effect, because we have to demonstrate to the Federal Bankruptcy Court that we are able to pay all current bills - that is, we have to show that we can make a profit during these months - and at the end of this period be able to shoulder our old bills besides, according to an approved monthly Payment Plan.
If we cannot show a profit to the Court during the next 4 to 8 months, the Court will probably appoint a trustee to come in and liquidate TAN under Chapter 7 of the Bankruptcy law - in other words, they will close us down and sell off our assets!
That is why I am calling on you to help us with your best possible order for books at this time - and/or your best possible donation to our Book Mission fund if you have enough books - in order to make 100% certain that TAN consistently shows profit during these normally slower months and will survive the present Chapter 11 period. We desperately need your financial help to insure that TAN keeps going and comes through this Chapter 11 period successfully (the next 4 to 8 months). We must insure that during the 4 to 5 months immediately ahead, which are normally slow months, TAN still meets all its current expenses and that we can demonstrate conclusively to the Bankruptcy Court that we can also show a profit and can reasonably shoulder the repayment of the old debt according to whatever Payment Plan we get approved.*
I’m thinking about placing an order to help them out. If it weren’t for them, so many Catholic classics would be out-of-print. You can go to their site at www.tanbooks.com
*This is one of the two most distressing letters I have ever had to write you. On February 18, 2005, TAN once again had to file for protection under Chapter 11 Bankruptcy law!
As a result, we are in a very dangerous situation during the next 4 to 8 months while the Chapter 11 filing is in effect, because we have to demonstrate to the Federal Bankruptcy Court that we are able to pay all current bills - that is, we have to show that we can make a profit during these months - and at the end of this period be able to shoulder our old bills besides, according to an approved monthly Payment Plan.
If we cannot show a profit to the Court during the next 4 to 8 months, the Court will probably appoint a trustee to come in and liquidate TAN under Chapter 7 of the Bankruptcy law - in other words, they will close us down and sell off our assets!
That is why I am calling on you to help us with your best possible order for books at this time - and/or your best possible donation to our Book Mission fund if you have enough books - in order to make 100% certain that TAN consistently shows profit during these normally slower months and will survive the present Chapter 11 period. We desperately need your financial help to insure that TAN keeps going and comes through this Chapter 11 period successfully (the next 4 to 8 months). We must insure that during the 4 to 5 months immediately ahead, which are normally slow months, TAN still meets all its current expenses and that we can demonstrate conclusively to the Bankruptcy Court that we can also show a profit and can reasonably shoulder the repayment of the old debt according to whatever Payment Plan we get approved.*
I’m thinking about placing an order to help them out. If it weren’t for them, so many Catholic classics would be out-of-print. You can go to their site at www.tanbooks.com
