There are numerous factors that affect whether or not a business is profitable and fiscally sound. Competition, new technologies, burgeoning markets and changes in the U.S. and global economies are just a few of the many things that can influence and ultimately determine a business’ success or failure. Frequently, these factors are beyond a business owner’s control and can result in a significant loss of market share and millions of dollars in losses.
When a business is struggling financially, to ensure for future viability and success, it’s critical to examine any and all options with regard to debt relief and financial restructuring. For business leaders, it can be extremely challenging to sort out the numerous and complex issues and options that can literally determine whether a business succeeds or fails.
As business debts increase to become unmanageable, in some cases, Chapter 11 bankruptcy is the best option to ensure for a business’ viability. For several decades, the attorneys at Rich Michaelson Magaliff Moser, LLP have helped businesses in New York City and throughout the state overcome debt problems and financially restructure.
When it comes to financial restructuring, there are many complex and important issues that must be considered and addressed. It’s critical therefore to hire a team of legal professionals who are well-versed in all corporate bankruptcy matters and who have a proven track record of consistently devising solutions to meet the unique needs and goals of businesses clients.