Business and bankruptcy: 5 telling questions

09 Oct 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:

  1. Do you have the time, energy, and desire to continue the business?
  2. Could the business prosper if it wasn’t servicing old debt?
  3. Could the business prosper if it shed equipment or premises leases?
  4. Could you start a like business if you walked away from this one?
  5. 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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Cathy Moran, Esq.

I'm a certified specialist in bankruptcy law (California State Bar Board of Legal Specialization) practicing in the San Francisco Bay Area for more than 30 years. In addition to practicing bankruptcy law, I train new practitioners at Bankruptcy Mastery.
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