When A Business Requires Debt Reorganization
Some business bankruptcies are part of the wrapping up of financial activities when businesses disband and shut down. Other business bankruptcies are part of a path back to profitability after a time of financial stress. The number one piece of advice we have for businesses in distress is not to arrive at the conclusion that your business must dissolve and close for good without exploring your options with an open mind.
Law Offices of Bill F. Payne, P.C., in Dallas offers business owners counsel based on decades of experience assisting businesses through bankruptcy and other debt-relief maneuvers. Attorney Bill F. Payne advises business owners to take a long view of the challenge of resolving financial crises. He welcomes the opportunity to share insights in no-obligation consultations with business owners and managers.
Are Your Business’s Financial Troubles Due To Unique Circumstances? Or Are They Part Of A Trend?
Businesses fall onto hard times for a wide variety of reasons, some centered on problems like fires and floods and others focused on consumer and economic pressures outside the business. Numerous analysts have observed rising rates of business bankruptcies in Texas in recent times.
Natural disasters, rising prices, changing consumer habits, business hardships brought on by the COVID-19 pandemic and other factors have all been named by experts who look at business health trends. If your business needs a lifeline for any of these reasons, you may be considering filing a Chapter 11 bankruptcy, selling your business, or seeking new loans and/or government assistance.
Rest assured that Mr. Payne has helped many previous businesses in Texas to weather many storms. He is ready to dig into the details with you and arrive at a promising strategy for breathing new life into your business – or letting it go as painlessly as possible, perhaps with business bankruptcy as a core solution.