Commercial leases are complex legal instruments. They establish obligations worth tens of thousands of dollars between a business and the landlord that may persist for many years. Commercial tenants often focus on particular terms in their leases, including the...
Year: 2021
Small businesses are struggling, but help is available
As the owner of a small business, it can be difficult to imagine closing your doors. However, if you’re struggling to bring in a profit and aren’t able to pay bills on time, then you may be considering bankruptcy. Small businesses are struggling in the United States,...
Will your business face bankruptcy if you can’t find employees?
There are many reasons for business bankruptcy, from taking on too much debt to changes in the market conditions to the introduction of a competitor in the same space that you didn't expect. In some cases, bankruptcy also happens simply because the business idea was...
5 steps to take when your business is in financial trouble
When your business is struggling and you think that a bankruptcy may be on the horizon, it’s time to look into the steps you can take to keep your business open and avoid bankruptcy. While a business bankruptcy can be helpful for many people, it isn’t always the right...
Insolvency may or may not be a precursor to bankruptcy
Many people use the terms “bankruptcy” and “insolvency” interchangeably. While neither is where any business wants to be, it’s important to understand that they are two different things. A business is considered insolvent if it’s unable to pay its bills when they’re...
Can your business declare bankruptcy and stay open?
If you know that your company cannot afford its current debt total, you may assume that you’ve merely reached the end of the line. You have to declare bankruptcy, sell your assets, let your staff go and close down the company, right? Or is there another option? Is...
What is a business bankruptcy 363 sale?
Two of the most important aspects of a Chapter 11 bankruptcy is when the Court confirms your reorganization plan and you sell off some of your company's major assets to pay off your creditors. The liquidation of this property is referred to as a "363 sale". You may...
Chapter 11 bankruptcy may require layoffs to balance the budget
Business bankruptcy can help a company renegotiate its debts if it wants to continue operating or get rid of liabilities when it is about to shut down for good. Companies trying to stay open often have to make drastic changes to curb their costs and improve their...
What bankruptcy options are there for your business?
When you open a business, your goal is to make sure it is successful. You put hours of your own time into the business. You spend your own money on marketing and setting up your shop. Unfortunately, not all businesses will succeed. If you have set up your business but...
Dealing with the emotional stress of bankruptcy
The ups and downs for small business owners have largely been “downs” for the last couple of years, so it’s perfectly understandable that a lot of companies -- yours included -- need to file for bankruptcy. That’s rather cold comfort, however, when you’re trying to...