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Should the business file bankruptcy? »

The first question for a business owner considering bankruptcy is:  do you have the time, energy, and desire to continue the business? (Read the other four questions for struggling businesses).
Entrepreneurs are the most optimistic, hard working, and determined individuals in the world.  Often my task is to puncture their irrational optimism:  they are convinced that [...]

Business and bankruptcy: 5 telling questions »

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 [...]

What Happens When A Corporation Or LLC Files A Chapter 7 Bankruptcy »

What Happens When A Corporation Or LLC Files A Chapter 7 Bankruptcy
A corporation or LLC can’t get a discharge by filing bankruptcy.  That means there will be no final order from the court saying that all of the debts are gone.  So why file a Chapter 7 bankruptcy for your company?  My colleague, Russell A. [...]