Realizing that your business is experiencing financial difficulties isn’t easy. Your focus will quickly shift to determining what you can do to get things back on track. Most business owners don’t want to have to close their company, so researching and executing...
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Firm News
Don’t let these persistent bankruptcy myths keep you from filing
When big businesses have to file for bankruptcy, the court proceedings might make the national news. Local business bankruptcies can also draw media attention at the regional level, especially when a bankruptcy might result in layoffs. As the owner or financial...
Protect your fleet from repossession with a timely bankruptcy
Those who have never worked in the commercial transportation industry have no concept of how valuable commercial trucks really are. The average person would likely express shock to learn that recently manufactured 18-wheelers could cost as much as a home, possibly...
What hotel owners should know about bankruptcy options
The current coronavirus pandemic has hit the hotel industry hard. Business travel has plummeted – many businesses have yet to begin authorizing employee travel because of COVID-19. Also, far fewer Americans have taken vacations over the last six months, opting to stay...
Is a bankruptcy filing right for my business?
Bankruptcy can be one of the toughest choices owners make. But it can also give them a fresh start. While a business's credit score can take a hit during a bankruptcy filing, owners can mitigate these feelings by understanding the process and what options they have...
3 signs it may be time to file for bankruptcy
Car, house and credit card payments can add up over time. If what you make is below or barely exceeds the debts you owe, this can be incredibly stressful. No matter a person’s career status or annual income, debt can consume their life for years. Fortunately,...
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 the brink of closing and you...
Trucking industry ready for an uncertain 2020
The trucking industry was glad to see 2019 end. All of 2018 saw only 310 shutdowns of trucking firms, not surprising as it was one of the best years in the history of the industry. But it was still sobering to see nearly 800 firms shut down in the first nine months of...
Can Chapter 11 Bankruptcy benefit struggling trucking companies?
There are semi-trucks on the highway or freeway every day, so does it come as a surprise to hear the trucking industry is suffering? When these trucks go “too” slow, you may think they’re a nuisance, but you should consider the people behind the wheel. Many truck...
How rising bankruptcies may affect Florida business owners
By most measures, the Tampa Bay area’s economy is healthy and growing. The housing market remains strong, jobs continue to grow and hotels have seen record-setting numbers in the first quarter of 2019. However, despite these signs of economic prosperity, there has...