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...
Trying to keep afloat is often challenging, especially in the early days of the company. For some, the need for working capital leads them to make credit-based purchases. Coupling these with invoices for services could mean that the company is stretched thin. If...
Most bankruptcy filings are initiated by the business or individuals themselves. Typically, they choose bankruptcy as a way to get out from under their debts or reorganize them to get back on to firmer financial footing. Sometimes, however, businesses find themselves...
If you run a business and have found it difficult to maintain it with limited incoming profits, it may be time to look at your options. If you’re falling behind on bills or cannot afford to pay your employees, then you could be in a position where a bankruptcy is...
Chapter 11 bankruptcy, a kind of business bankruptcy, is designed to help businesses restructure and reorganize their debts. During a Chapter 11 bankruptcy, you will usually stay in possession of your business and finances, being able to continue to operate so long as...
A drop in consumer spending, difficulty finding staffing or even problems with your supply chain may have affected your once-profitable business. It may only take a few weeks for a company to go from generating revenue to deeply in the red and unable to pay their...
Running a successful business requires paying attention to daily operations while maintaining a focus on long-term growth. Sadly, even the most intelligent and experienced business owner may not be able to predict factors such as supply shortages, economic downturns...