When you hear the word bankruptcy, it may make you feel like you’ll lose everything or be totally out of control. The reality is that bankruptcy is beneficial for many companies, especially when sudden changes in the economy or other impacts lead to heavy debts...
Chapter 11
Bankruptcy does not have to be the end of your start-up
You started your company with enthusiasm and excitement, sure that you could make it work. Though you and your employees worked hard, things just didn’t click. Maybe the reason was out of your hands, like an economic recession or changes in competition. Regardless,...
Bankruptcy protects businesses in crisis
Boy Scouts of American (BSOA) has been rocked by controversy in recent years for the cover-ups regarding sexual abuse detailed in secret records going back to 1944. With the deadline for victims to file a claim approaching, the organization looks like it will surpass...
What happens to employee wages in business bankruptcy?
One of the primary concerns of some business owners when they need to file for bankruptcy is what will happen to the employees. Sometimes these employees have been with them for years and have helped build the company. They might be worried that the employees won’t...
How can a Chapter 11 bankruptcy protect your business?
You love running your own business, but with the economy as it is today, you’re struggling. Anytime there is a dip or downturn in the economy, it does make it harder to make ends meet because you don’t have as much income coming in. On top of that, your vendors and...
Which form of bankruptcy is better for my business?
Bankruptcy is a viable, honest means of giving your business a fresh start. Of course, it may not be the right fit for every business in financial turmoil. You would need to speak with your attorney or an otherwise qualified expert to know for sure. Common forms of...