Restructuring

Labor Day has come and gone, but here’s one more sign summer is over: a bus company that ferried Manhattanites to the Hamptons has filed for bankruptcy.

Sarah Frankel has launched the525group, a recruitment firm for professional services firms in the bankruptcy and restructuring industry. Ms. Frankel, a board adviser at the International Women’s Insolvency & Restructuring Confederation, has also been on the board of the Turnaround Management Association. She has experience as a business development adviser.

The top executive at Ultimate Nutrition Inc., which makes protein powder for bodybuilders, says he destroyed millions of dollars of the shake supplement ingredients and other raw materials before putting the company into bankruptcy last year.

Executives at TD Bank N.A., which has been fighting the Connecticut company over a $13 million loan, don’t believe it.