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June 2019 Archives

Knowledge is power: reaching an informed debt-relief decision

Many business owners across Los Angeles and Southern California reasonably assume that reaching out to a bankruptcy attorney for debt-linked assistance will result in guidance that promotes the upsides of a bankruptcy filing.

After more than a century of success, FTD files for bankruptcy

In today’s world, no company is immune from the pressures of market competition, regardless of how long that company has been around. Even time-tested ideas like flower and gift delivery can prove to be unprofitable if the company encounters an unforeseen problem or makes an unsuccessful business decision.

Equipment purchases: A common source of debt for small businesses

One thing that can have big impacts on a company's success is what equipment it has. There are many industries in which having up-to-date equipment is critical for a business when it comes to staying competitive. Getting the machines, devices and technology one's company needs can be expensive. So, it is not uncommon for business owners to take on debt to buy new or upgraded equipment.

Business bankruptcy: Deciding between Chapter 11 and Chapter 7

If you own a business that’s in financial trouble and headed toward bankruptcy, you need to decide whether to file Chapter 11 or Chapter 7. Pursing a Chapter 7 will mean the end of your business and the liquidation of assets, but the process will be over relatively quickly and efficiently. Chapter 11 allows you to restructure and keep your business open, but it is a much longer and more complex process. And it isn’t always successful.

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