Business Workouts and Bankruptcy

Business Restructuring Debt Choices

image of store closing signThe Great Recession continues to impose high financial hurdles for today’s businesses, including increases in the cost of goods sold, slower paying customers, and an increase in uncollectible accounts receivable. Over the same period of time, credit markets have tightened, making a traditional refinancing of business debt difficult to accomplish. Business debt workouts and Chapter 11 or 13 bankruptcy cases are the most commonly used solutions for unsustainable financial strain on a business. Continue reading