Solving businesses’ cash flow problems through workout and chapter 11 reorganization.
Almost every business owner gets into trouble with cash flow at some point. Often, the problem is unavoidable and unforeseeable. A long-time customer goes bankrupt, an economic recession hits, a key customer buys less and pays more slowly, essential machinery breaks down and shipment dates slip, an acquisition does not meet projections or a seasonal sales valley is greater than expected.
If you are a business owner, you will likely experience cash flow crises from time to time, and you will need to deal with them quickly, effectively and creatively. Nobody knows your company as well as you. Only you can determine which expenses can be reduced or eliminated. Only you can pinpoint which resources that can be tapped for cash.
Some solutions to cash flow problems are:
Implementing one of more of these changes can take time. Our attorneys can take action to create the time needed for managment to implement the strategies by out of court workout of debts with creditors or, if necessary, the filing of a chapter 11 reorganization proceeding to gain the automatic stay injunction to prevent creditors from taking collection action while the medium-range strategy is implemented.
Contact us now to find out more.