Restaurants, Hotels and Bars: Steps to Survive the COVID Epidemic

The restaurant and hospitality industry are among the hardest hit by the COVID-19 epidemic. Self-distancing is keeping people home and away from bars, restaurants and hotels. Across the nation, restaurants and bars are expected to lose some $225 billion over the next three months, while hotels are losing an estimated $1.4 billion in room revenue per week, with that number …

Linda Worton Jackson on Chapter 7 Bankruptcy

Once a business files for Chapter 7, the company shuts down, the officers, directors, and employees are dismissed, and a court appointed trustee takes over to liquidate the company for the benefit of creditors. The company does not continue operating under Chapter 7, except in very rare circumstances where the trustee allows it to do so temporarily.