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Bankruptcy cases Skyrocket as the economy plummets: debtors seeking protection besiege attorneys.

Publication: San Diego Business Journal
Publication Date: 14-SEP-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Bankruptcy cases Skyrocket as the economy plummets: debtors seeking protection besiege attorneys.(LAW)(Bill Kousens)(Aerowind Corp.)

Article Excerpt
Bill Kousens recalls when Aerowind Corp., an El Cajon manufacturer that supplied the payload sections of Tomahawk missiles, operated round-the-clock.

"For much of the decade from 1982 to 1992, we were running 24 hours a day, seven days a week," says Kousens.

The firm once employed as many as 125 workers, he says.

But those days are long gone, in the past 18 months, Kousens has laid off 20 workers, shrinking his staff to 12 as sales dwindle to less than half of the $2.5 million achieved in 2008.

In addition to dwindling defense work, a key customer filed for bankruptcy, putting even more pressure on his business.

"We sold off a lot of our equipment to reduce our debt payments from $50,000 a month to $10,000 a month," said Kousens.

Though the downturn started more than three...

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