What is Business Bankruptcy? Business bankruptcy refers to a legal process undertaken by a company or business when it is unable to repay its debts to creditors. It is a formal declaration that the business is insolvent and cannot continue to operate under its current financial obligations. Filing for bankruptcy is often considered a last…
What Is Business Debt Restructuring? Business debt restructuring is the reorganization of overdue accounts so the business’s creditors can be paid without having to shut down the business or file for bankruptcy. When a company has more debt than it has income, it can find itself in a very stressful situation. Bankruptcy may be considered…
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