Business is looking a little brighter at smaller companies. Results of a new survey show that they borrowed more money during August – a sign that business owners are becoming more confident about the economy.
The survey by PayNet, a research firm that tracks loans to small business, shows that lending rose 3 percent, the second straight monthly increase. Prior to July, lending had fallen in five out of six months.
Bakers Footwear Group files for bankruptcy
Bakers Footwear Group Inc., a retailer of shoes for young women, has filed for bankruptcy protection after announcing a plan to close stores and reduce costs because of declining sales.
The company listed assets of as much as $50 million and debt of as much as $100 million in Chapter 11 documents filed last week in U.S. Bankruptcy Court in St. Louis. Chapter 11 is the section of the Bankruptcy Code used by companies to reorganize.
Spirit’s $100 carry-on fee starts in November
Spirit Airlines Inc. will begin charging passengers $100 for carry-on bags unless they pay a smaller fee before getting to the airport. The higher fee starts Nov. 6 and applies to customers who pay the carry-on fee at the boarding gate. The airline announced in May that the $100 fee was coming.