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For the second time, Lorrie Morgan has filed for bankruptcy in federal court listing estimated liabilities between $1 million and $10 million and assets of $500,000 to $1 million. Her first filing was in 1992 with a Chapter 11.
Morgan said the recent Chapter 7 bankruptcy is “an unfortunate yet necessary part” of the restructuring of her business:
“It’s very important to me that my fans and business associates understand that I’m OK. Today’s economic times have affected many American families and businesses. I, along with many of you, am not immune to this fact. I would appreciate the courtesy of my friends and fans respecting my privacy regarding this matter.”
Though this is sad — I’ve been a fan of Lorrie Morgan for many years and it’s always rough to hear that someone you admire going through hard times — you’ve got to wonder what was going on that she ended up $1 million-plus in the hole!
[image used with permission from newscom.com]