Should Your Business File Bankruptcy? Many businesses are failing due to the COVID-19 Pandemic, especially small businesses. Business owners are faced with the difficult decision of whether to try to save their business, or fold up and close. I get many calls each week from business owners who tell me they need to file bankruptcy, but do not understand what it does, or does not, accomplish. There are a lot of misconceptions about options businesses have in bankruptcy. This article [...]
The COVID-19 pandemic is wreaking havoc on small businesses. "Mom and Pop" stores and other small businesses are the most affected and least likely to survive the downturn in business. Employees are being laid off, businesses are closing, and vendors of businesses are losing their businesses. These are difficult times to be sure. When faced with this reality, what steps can you take to recover? Especially when the problems thrust upon you by circumstances are beyond your control. Small businesses [...]
Waiting to examine bankruptcy as a solution to financial problems can be very costly.
The City of San Bernardino, California filed for bankruptcy recently under Chapter 9 of the Bankruptcy Code. Many other municipalities have filed as well. Should you file?
When does it make sense to file a Chapter 7 or Chapter 11 case for a corporation, LLC, or partnership?