Last week, we discussed the power of music to influence your purchases and bankruptcy in Worthington, MN. The music that businesses typically play during the holiday season and other festive times throughout the year is often referred to as “muzak.”
This nickname comes from a company that specializes in gentle, instrumental background music. The company, called Muzak, likely created some of the sounds you’ve heard in waiting rooms and the elevators.
However, though Muzak’s music can damage your wallet during the holiday shopping season, this company has gone through their own financial struggles. Muzak filed for Chapter 11 bankruptcy back in 2009. So, here are a few interesting facts about Muzak’s bankruptcy filing to consider while bobbing your head to their instrumental tunes:
- History: Muzak has been around since 1934. Although they’re best known for their instrumental works, their company has also explored the genres of soft rock and pop.
- Reach: According to the company’s Chief Executive, Muzak’s tunes reach approximately 100 million people every day.
- Bankruptcy: Although Muzak entered bankruptcy without a plan in place, they reduced their debt by $230 million dollars in the course of a year.
- Recovery: Currently, Muzak operates in three separate divisions: media, sensory branding, and technical systems. They have recovered from bankruptcy and still deliver the head bobbing, instrumental tunes in the background of your nearest department store or elevator.
Although bankruptcy can be frightening, Muzak is proof that it’s possible to recover from financial troubles.
In Worthington, MN, the same is possible. With the help of the professionals at Behm Law Group Ltd., filing for bankruptcy can start you on a new path towards financial success in 2016. Soon, your financial troubles can fade into the background, just like some smooth, instrumental muzak.
For more information about your personal bankruptcy filing this holiday season, contact the professionals at Behm Law Group Ltd.