Saks Global announced the closure of 57 Saks OFF Fifth locations, leaving only 12 in operation

The bankruptcy process can be tough, but it doesn't automatically result in giving up all of your assets.

It appears a few breakfast restaurant chains have found themselves dealing with financial stress. So much so, that it has forced them into bankruptcy. The bankruptcy filings are putting a spotlight on the issues the chains are facing as customers aren’t dining out as much.

An appeal for bankruptcy protection filing of the operator of Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus has left the luxury department stores’ suppliers with unpaid bills and caused a rift with Amazon,

No paycheck doesn't necessarily rule out bankruptcy, but there are a few important things to know before filing.