There are many reasons why a business might consider bankruptcy. It’s typically the result of ongoing financial difficulties, but the specific causes can vary widely. Cash Flow Problems If a business struggles with consistent cash flow, it may find itself unable to pay its bills, employees, or suppliers. Without sufficient cash reserves, the company can  … Read more

Business bankruptcy is a topic that many entrepreneurs and company owners prefer to avoid. However, the reality is that economic challenges, market shifts, and unforeseen events can all put a business at risk of financial distress. Understanding the process and implications of bankruptcy can help businesses navigate tough times and make informed decisions about their  … Read more

Filing for bankruptcy is a significant decision for any business, often seen as a last resort when financial turbulence becomes too severe to manage through conventional means. It’s a process shrouded in misconceptions and fears, partly because its implications are far-reaching, affecting not just the business but also its employees, customers, and creditors. The Basics  … Read more

Filing Chapter 11 can be an essential decision for a company to avoid bankruptcy and remain in operation. It may come as a surprise, but chapter 11 is often a company’s best alternative when it comes to keeping its doors open. Chapter 11 bankruptcies are also known as reorganization bankruptcies. While they can be a  … Read more

A recent survey from Brigham Young University found that many small businesses are unaware of how bankruptcy may help save their business. A group of researchers from Brigham Young University, Harvard, University of Chicago and the University of Toronto teamed up to survey small business owners’ perceptions of bankruptcy. In short, they found that: 30%  … Read more

The crisis in the current economic scenario affects the business sector, combined with poor financial management and accumulation of debts, companies, and institutions are often forced to declare bankruptcy. This is usually the last thing a business person would like to do but finds this is the only solution to comply with the payment of  … Read more

On November 19th the last remaining credit union to service Sears employees will be closing business and merging with PrimeSource Credit Union. 70 Year Old Credit Union Sears Spokane Employees Federal Credit Union is over 70 years old and serves about 528 members with approximately $3.5 million in assets. Over 27 credit unions have served  … Read more

A law journal put out by the American Bankruptcy Institute by two Justice Department officials last week reminds everyone that there is no bankruptcy for cannabis businesses in the United States. In the article written by Clifford J. White III and John Sheahan. The denial of bankruptcy protection for this category of businesses is due  … Read more

The idea of being able to get a business loan after going bankrupt almost seems counter intuitive to most individuals. The truth of the matter is that while you may well be able to get a business loan after seeking a Texas bankruptcy protection it will prove to be a little more difficult than it  … Read more

Many individuals are under the assumption that all of their debts are going to be discharged if they file for bankruptcy. There are some debts that will not to be discharged in this form of debt relief. If you were required to collect sales tax in your business which you are now filing for bankruptcy  … Read more