Beleaguered residential real estate closing firm Morris Schneider Wittstadt filed for bankruptcy late Sunday and appears to be shutting down operations.
The Atlanta-based firm and six related entities owned by brothers Mark and Gerard Wittstadt filed for Chapter 11 in U.S. Bankruptcy Court for the Eastern District of Virginia after 9 p.m. on July 5. According to the filing, the firm still had 33 lawyers and 95 staff—128 employees overall—as of July 2, but it would be down to five lawyers and 31 staff in four offices as of the July 5 filing date.
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