Businesses may begin struggling financially for a variety of reasons. Perhaps supply chain issues disrupted order delivery services for a company, and now it cannot currently manufacture products due to a lack of raw materials. Maybe an organization recently lost a...
The number of corporate bankruptcies is set to reach a 12-year high in 2023, with 236 corporate bankruptcies filings in the first four months of the year alone. The number is more than double last year's figures over a similar period. This trend has raised concerns...
Many business owners who are facing overwhelming debt know that they need a solution to their challenges. They’re simply not sure what that solution could be because they worry that they will lose their company if they declare bankruptcy. While this process would get...
If your business has been going through a tough time, you’ll know how quickly the debts can pile up. No matter how hard you try sometimes you simply can’t make ends meet. The problem is, if your business isn’t making any money then chances are neither are you. So what...
Maybe you were the first person in Alaska to buy into a particular popular franchise, but locals seemingly have zero interest in patronizing your new business. Maybe the company you started was successful for years before a lawsuit left the organization with a...
If your business is in serious financial difficulties, you might consider bankruptcy. Yet, if you still believe in your company, the thought of killing it may be too much to bear. While filing for bankruptcy could be the end of your business, it does not have to be....
Running a small business can be a great source of revenue when the company is successful. You can pay yourself and your employees a competitive salary and possibly make additional money as the owner if the company generates profits. However, if you encounter major...
Like many other businesses, you’ve struggled with the ups and downs of the economy, but the circumstances of the last few years have been overwhelming. You’ve been forced to file for bankruptcy and reorganize – and that meant some layoffs. How do you keep your core...
When you imagine a business declaring bankruptcy, you may assume that it has to close. And this is true in some cases, such as when they use Chapter 7 bankruptcy. This is liquidation bankruptcy, meaning the assets that the business holds have to be sold and the money...
If you’re running a business and having trouble making ends meet, you might decide that bankruptcy is the right choice for you. If you do, you may need to sit down with your attorney to work out what kind of bankruptcy is best and when to file. Sometimes, business...