Business and bankruptcy: 5 telling questions
By Cathy Moran, California Bankruptcy Lawyer on Oct 9, 2009 in business bankruptcy
The small business owner wants to know what the options are for a struggling business. To identify those options, I need to know the following:
- Do you have the time, energy, and desire to continue the business?
- Could the business prosper if it wasn’t servicing old debt?
- Could the business prosper if it shed equipment or premises leases?
- Could you start a like business if you walked away from this one?
- Could you sell this business as a going concern?
In future posts, I’ll expand on just what answers to these questions suggest about whether bankruptcy might revive a struggling business.
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