Below you'll find a list of all posts that have been tagged as “Bankruptcy”
By Linda Worton Jackson Author’s note: Recently, I collaborated with Overproof to present a webinar about how businesses in the hospitality and beverage alcohol industry could better prepare for the legal and economic impacts of COVID-19. The information below was included in that webinar, as well as additional insights. You can view a recorded version of the presentation here. As …
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 …
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.
How did so many Americans get on the fast path to a bankruptcy rebound and how can others? For starters, have a realistic, positive attitude and a clear and sustainable plan of attack to get on your feet again after a bankruptcy.
