SMALL BUSINESS BANKRUPTCY
It is unfortunate that we are all living in unprecedented times. In these times though, we need definitive information. We are not getting that from the federal government.
A typical small business in San Diego is suffering under the current quarantine restrictions. You are not allowed to operate your business. At the same time, the business is incurring expenses. At the end of this, those vendors, landlords, creditors, etc will expect you to immediately satisfy your obligations.
So, there is an obvious problem with this model. Whether your business rents an office, has continuing expenses with vendors or is simply operating with no revenue, you need a plan to handle the reopening.
This Pandemic will end. The important thing for anyone reading this to understand, is their rights such that when this ends, you can immediately reopen profitably.
No one wants to talk about bankruptcy. But, it can be a powerful tool to allow you to reopen efficiently and effectively. For example, a case filed now, can eliminate a lot of prior obligations allowing the business owner to emerge from this crisis debt free. Once the quarantine is over, you can reopen the business debt free.
McMillan Law Group is currently offering free initial consultations to business owners looking to learn and know more about their rights and opportunities.
Please call 619 795 9430 to set up a consultation. We will all get through this, but give us the opportunity to show how you can do so with strength.