As a business owner, it is vital to know the warning signs that indicate your business is in financial trouble and may be headed towards bankruptcy. While it is never easy to confront the possibility of business bankruptcy, ignoring the warning signs can only make the situation worse. Here, we’ll share some of the most
Business Bankruptcy
Chapter 13 for Small-Medium Sized Bankruptcy
Individuals and married couples who are owners of small to medium-sized businesses in New York City have a special option available for small business bankruptcy that can help save their businesses or assets. Chapter 13 Bankruptcy is available to those who have assets and income and who want to try to salvage their business or
Business Bankruptcy
In late February 2012, bankrupt Peninsula Hospital in Queens, N.Y., closed down much of its 173-bed facility after NY state health officials ordered it to shut its lab, citing patient safety danger. Since lab services were intertwined with the hospital’s operations, Peninsula Hospital transferred and discharged its inpatients and canceled surgeries, according to Crain’s New York. The
Chapter 7 Can Be Used by Businesses to Liquidate Assets
On November 6, 2009, the New York Times reported Jason Rodriguez violently fired at his former employment in downtown Orlando, FL. The engineer gave his life away when he randomly shot 6 individuals, injuring 5 and 1 killed at the scene. The shooting stemmed from anger in being let go from a job in 2007 at an
Ending a Business
When a small business is not doing well, or when its owners want to start another chapter in their lives or careers, there are many ways to get out of a business – liquidate, merger, bankruptcy. In evaluating which route to take, the entrepreneur might first review the business’ debts. The liabilities a business has
