If your business relies on steady cash flow to survive, a Merchant Cash Advance (MCA) can feel like a lifeline until the daily debits start draining the account faster than revenue comes in. When the repayment structure destabilizes an...
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Chapter 11 Bankruptcy for Businesses
3 potential benefits of Chapter 11 bankruptcy for business owners
There are many different types of bankruptcy available to people in an assortment of different circumstances. Those who own and operate successful businesses may want to consider Chapter 11 bankruptcy. Chapter 11 bankruptcy involves the...
Who creates a Chapter 11 reorganization plan if a business files?
Some businesses file for Chapter 7 bankruptcy because they are past the point of no return and will need to liquidate debts as part of the process of dissolving the organization. Other businesses file for bankruptcy to regain control over...
What happens when a business files for Chapter 11 bankruptcy?
Just a few months ago, the U.S. economy was strong and growing. But then things took a drastic turn with so many businesses shutting down or scaling back operations to slow the spread of the coronavirus. Perhaps, now your business is on...
What are the primary benefits of Chapter 11 bankruptcy?
As a business owner, you’ll do whatever it takes to maintain a strong balance sheet. However, things can take a turn for the worse when you least expect it, thus leading you to learn more about Chapter 11 bankruptcy among other options....
Review your options for a Chapter 11 bankruptcy
If you're a South Florida business owner who is struggling to keep your company solvent and your doors open, it can be quite frustrating to juggle bills every month and never manage to pay them all. In fact, you might even worry whether...
Will I have to liquidate assets under Chapter 11?
Small business owners with a lot of debt may decide to seek relief through a Chapter 11 bankruptcy. In some cases, it might be possible to continue operating your business during the pendency of your proceedings. Filing for Chapter 11...
What is an ‘automatic stay’ in a Chapter 11 bankruptcy?
One benefit to debtors who file a Chapter 11 bankruptcy is the automatic stay. This procedure temporarily halts all collection activities, including repossessions, foreclosures and judgments. The automatic stay takes effect upon the...
How do I tell if filing for Chapter 11 bankruptcy is wise?
Depending on the type of business you operate here in Florida, your profits may be cyclical. Often, the profits made during the summer months at the height of the tourist season must carry the business through the leaner seasons. That can...
Could your business be saved by filing for Chapter 11?
Being a small business owner has its perks, but it is not for the faint of heart. Especially in the first few years when there are operational costs that might exceed the revenue generated, it can feel like a losing proposition. That...
Could filing for Chapter 11 bankruptcy save your business?
If Black Friday sales failed to get your small business out of the red, you may have to seek further debt solutions like a Chapter 11 bankruptcy. While bankruptcy shouldn't be your first choice for a solution to your debt problem, it can...
Who can file for Chapters 11 and 13 bankruptcies?
The first thing that debtors often ask their bankruptcy attorneys is what property they will be allowed to keep and what they will need to surrender. The property you are permitted to keep is known as "exempt" property. Chapter 11 and...
What can you expect at a Chapter 11 meeting of creditors?
You made the decision to file Chapter 11 bankruptcy for your business. You have gone through the process of filing your bankruptcy petition with the court. Now the U.S. trustee is sending you a notice of a Section 341 Meeting of...
Making your company more profitable while filing for bankruptcy
If you are struggling with unmanageable debts as a business in the state of Florida, it is likely that one of the primary reasons for this is because of an unhealthy cash flow. This has meant that the interest rates associated with debts...
Preparing your employees for a company bankruptcy
Deciding to file for bankruptcy is never an easy decision. Even if you know your company has been struggling mightily for some time, it can still be a heart-wrenching decision. Not only do you have to deal with the stress and emotions of...
Charming Charlie emerges from Chapter 11
Last December, Charming Charlie filed for Chapter 11 bankruptcy protection. The reason given was to reduce the number of corporate employees and to close many stores that were considered "underperforming." As of April 24, the jewelry and...
What does the IRS say about taxes and Chapter 11?
When approaching Chapter 11 bankruptcy, it is very important to consider the tax implications. Fortunately, the Internal Revenue Service (IRS) knows the challenges that businesses face, and it offers direct advice regarding this process....
Iconic guitar maker seeks bankruptcy protection
The last few years have seen a number of retail stalwarts succumb to a changing economy. An increasing number of consumers are shopping online and passing up traditional brick and mortar establishments. This change has affected retailers...
After discharge: What to expect when exiting Chapter 11
While in the midst of a Chapter 11 bankruptcy your primary focus should be on properly restructuring the business in order to reemerge as a profitable enterprise. The confirmation and acceptance of the reorganization plan may seem like...
Cash flow solutions under Chapter 11
It is a simple fact that businesses can acquire cash flow issues at some point in their development. This does not mean that the business itself needs to fail or that the services they offer need to be fundamentally changed. But it can...