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There have been several posts around the Internet on Arbonne Filing or about to file for Chapter 11 bankruptcy. In November they held a conference call and stated that if they did not receive additional funding of $400 million dollars they may file for Bankruptcy. Even though no news from Arbonne has been confirmed, many reps and consultants have responded.
You can view some of the over 200 comments here:
http://mlmblog.net/2009/10/arbonne-bankruptcy.html
Chapter 11: Also known as reorganization, this type of bankruptcy is for individuals and more commonly, businesses to restructure debt. Similar to Chapter 13, in that it allows the filer to draft a plan to repay some debt while retaining assets. Chapter 11 is much more complicated, and therefore expensive, making it financially feasible mainly for businesses and very wealthy individuals.
We will keep you updated on this story as we receive more info...
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