Tuesday , February 7 2023

The past decade has been rough on the brick-and-mortar retail industry, particularly for s...

Bankruptcy — A New Beginning for Smaller Businesses – Chain Store Age

The past decade has been rough on the brick-and-mortar retail industry, particularly for smaller companies that faced competition from big box retailers on one side and online retailers on the other. For many stores that have struggled to stay afloat, the pandemic was the final nail in the coffin.    Retailers are that are struggling to keep their doors open  have options. The bankruptcy code can help a company stay in business while it reorganizes outstanding debt, and there are new features designed specifically for smaller businesses. Traditionally there were two options for businesses in the bankruptcy code, Chapter 7 and Chapter …

 

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