Pepsi announced this afternoon that it’ll be closing its Collierville manufacturing location and will stay a warehouse and distribution facility. This seems to be a result of the difficult national climate for soft drinks.

This action will cause 55 employees to be laid off, including 12 salaried workers and 43 hourly workers.

Layoffs are no fun for anyone involved.

The company doesn’t necessarily WANT to layoff workers, but it’s in their own best interest do so in most situations.

This also isn’t desirable for the employee who’s being laid off.

Ideally, the said employee has emergency money saved up – the rule of thumb is to save up enough money to survive at least three months without income. However, for many people, that’s just not the reality and those people truly suffer when something like a layoff hits them.

If you’ve been laid off and it’s put deep financial stress on you, resulting in an inability to pay your bills and putting you deep in debt, there’s help for you.

By filing for bankruptcy, your debt can either be discharged or it can be lumped into an affordable 3-5 year repayment plan. Once the bankruptcy is complete, you have a fresh financial slate to start rebuilding your credit the right way. If you are considering filing for bankruptcy, or would like to explore other options around resolving your debt, please call a leading bankruptcy law firm Memphis, TN residents have been relying on for over a decade.

At Darrell Castle & Associates, we have access to a program called “7 Steps to a 720” that will teach you how you can re-establish your credit with tips and tricks the credit card companies don’t want you to know.

Let us help you get back on your feet.

If you’re considering bankruptcy or if you have any questions, please contact us today, either online or by calling us at (901) 327-2100. One of our experienced Memphis bankruptcy attorneys will be ready to speak with you about your situation, free of charge.