NORCROSS, GA, February 27, 2013 (Press-News.org) There are a lot of rich people who end up having to file for bankruptcy, including Roy Raymond, Founder of Victoria's Secret. The story of this poor entrepreneur turned successful business man is one that not many people know. The Tampa bankruptcy experts at Clark & Washington share his story.
Roy Raymond's Bankruptcy Story
Roy Raymond got his big break when he opened up a store named Victoria's Secret. He created it as a result of being embarrassed while shopping for lingerie for his wife in a large department store. Although he did have to borrow money in order to start this store, it was worth it. His sales led to millions of dollars over the course of just a few years, which is when he sold it. When 1984 rolled around, Raymond decided to open up a new store for children named My Child's Destiny. Unfortunately, this store was not a hit like Victoria's Secret was. He ended up needing to file for bankruptcy just two short years later.
Victoria's Secret is one of the largest lingerie retailers still around today. It's worth more than $5 billion dollars, and business is continuing to boom. While this was a great way to get started, Raymond did not enjoy the same success with the second store he created. Lack of sales and stiff competition led to his savings being wiped out and many of his investments going under.
Writing Your Own Bankruptcy Story
Bankruptcy can happen to anyone, even those who are very successful, such as Raymond, the Tampa bankruptcy lawyers at Clark & Washington want you to know. Just one wrong investment or bad decision can make all the differences with the finances that are available to you. Even if you have a savings account, that doesn't mean that someday you won't have to file for bankruptcy.
If you ever find yourself in this type of situation, will you know how to handle it? It's important that you make the right moves, so you can come out of the process knowing what to do next. Hiring a Tampa bankruptcy attorney is the best decision you can make. He or she will first take a look at your financial situation to make sure you are even suitable for bankruptcy. From there, they will provide you with advice about what the right steps to take are. Nobody wants to file for bankruptcy twice, which is why Tampa bankruptcy attorneys are so essential to work with.
If even someone like Roy Raymond can find themselves in the depths of financial debt, you can too. It's best to be safe and hire a professional that can help you out along the way. Your life can go on after this type of financial disaster, but you have to make sure you take the right path first.
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Tampa Bankruptcy Attorneys, Clark & Washington, Discuss Roy Raymond's Bankruptcy Story
Some of the stories that hit people the hardest are those that they hear about public figures. While people in the limelight might seem like they are rich and free of worries, this isn't always the case.
2013-02-27
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[Press-News.org] Tampa Bankruptcy Attorneys, Clark & Washington, Discuss Roy Raymond's Bankruptcy StorySome of the stories that hit people the hardest are those that they hear about public figures. While people in the limelight might seem like they are rich and free of worries, this isn't always the case.