Cash-Strapped American Laser Converts To Ch. 7

Law360, New York (November 15, 2012, 12:48 PM EST) -- A Delaware bankruptcy judge on Wednesday gave the green light to laser hair-removal chain American Laser Centers LLC to shift its Chapter 11 bankruptcy to a Chapter 7, weeks after the company said it didn’t have the money to fund a Chapter 11 reorganization plan.

U.S. Bankruptcy Judge Mary F. Walrath granted Michigan-based American Laser’s move for conversion, saying it appeared “the relief requested by the motion is in the best interests of the debtors’ estates.”

The judge said the conversion would become effective Nov. 30,...
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