In the roller coaster of the solar business, ups and downs are the norm. But over the past two years several well-known solar installers and manufacturers went bankrupt, exited the industry or consolidated with other companies. The trend in consolidation left few non-bankrupt solar companies remaining.
Merchant cash advances seem to offer advantages to a business that needs some extra liquidity, but nothing could be further from the truth. These advances work by loaning you money that you reimburse on an ongoing basis with payments from your credit or debit card sales. Another merchant cash advance method takes fixed debits from your bank account on a daily or weekly basis.
The iconic retailer Toys ‘R’ Us filed for bankruptcy last year and has announced that it will close 800 of its stores in the United States. Customers finding lower prices shopping online or at other big-box retailers have hurt sales during the past several years as the company has struggled with $8 billion in debt.
For many business owners, periods of downtime are just a cost of doing business and the trick is sitting tight until sales pick up. But for businesses facing mounting bills with no end to the problem in sight, Chapter 11 bankruptcy reorganization may be the answer.
In business it's not uncommon to have bad stretches. Business often lose key clients or market share, or face debt that cannot easily be repaid.