Inherently, an individual who sets out to own all or a portion of a business is a risk-taker. Among business owners the mantra of no risk no reward is a constant and even the most successful business models and business owners may experience financial hardships. From economic downturns to emerging markets and technologies, for better or worse, in today’s global economy everything is interconnected.
Many of today’s businesses are also more complex in how they are structured and financed. Consequently, the negative effects of a loss in market share or an executive scandal often has a ripple effect and adversely affects all business operations. When a business is experiencing financial difficulties, owners are advised to consult with legal professionals who have helped other business owners decrease and eliminate debts and restructure business operations to once again become profitable.
At Rich Michaelson Magaliff Moser, LLP, our attorneys understand the many and varied challenges that businesses today face. Our attorneys are skilled and accomplished legal professionals who are well-versed in corporate bankruptcy and restructuring matters. We know that every business, and its set of financial problems, is unique and we work to tailor solutions to help clients meet their short-term and long-term financial goals.
Chapter 11 bankruptcy is just one option that business owners who are dealing with debt problems may choose. Through the corporate bankruptcy process, many once-struggling and failing businesses have eliminated debt, restructured operations and emerged from bankruptcy poised for success.