Stop the chaos, take charge
A chapter 11 bankruptcy affords a business the ability to keep operating as usual. It also protects your assets and provides a reprieve from any creditors' attempts to collect debt. This way, your business will have space to continue servicing its customers as usual; but at the same time, it will gain breathing room to make necessary long term changes.
There are many options that can benefit a company's long term plan, such as: a full scale reorganization, a downsizing of the business, rejecting unexpired leases or contracts, a structured wind down or a controlled liquidation. These options are strategies through which many businesses are saved and can get back to a profitable position.
Goals can be:
- To maximize business profitability without incurring breach of contract fees.
- A reprieve from growing debt.
- A halt to litigation and other collection efforts.
- Achieve a 5 year discounted debt-repayment plan.