Photo Credit: Phillip Pessar, Creative Commons 2.0 Just before Toys R’ Us went bankrupt, executives at the company were given checks measuring in the millions. Despite the fact that higher-ups made it out with money in their accounts, nearly 30,000 workers were left to fend for themselves with no severance of any kind. In response, […]
Dealing With Debt and Bankruptcy as You Run Your Business
There are a number of reasons a small business can fail. It might lack the capital necessary to continue; it may have bad credit relations; it may have an ineffective marketing strategy; or it could have piled on too much debt. It’s not easy to run a business. That’s why nearly half of all small […]
Effects of Filing for Business Bankruptcy
When a business is overwhelmed with debt, you can file for business bankruptcy in order to get the business back on its feet. The effects of filing bankruptcy will differ depending on which chapter you file under. Elimination of debt. Business bankruptcy allows your business to eliminate debt in two ways. Chapter 7 allows for […]