When the business cycle is challenging the survival of your business, we will work with your lenders and other debt holders to reduce your financial obligations to a manageable level. This often involves a “workout” where our client’s financial obligations are adjusted by agreement so that the client can recover and pay the creditor on the agreed upon terms.
We will work closely with you and your financial advisor/accountant to determine what needs to be done to move your business from insolvency to profitability.
When businesses are experiencing cash flow problems, a natural tendency of an owner is to stop communicating with lenders or vendors. But this is precisely the time when we can help communicate the hard facts to the creditor so that a viable plan of recovery can be agreed upon.
If the claims of creditors are so numerous or large that a workout is impossible, then we will represent your firm with a bankruptcy reorganization under Chapter 11 of the United States Bankruptcy Code. Under certain circumstances, we may advise a Chapter 7 bankruptcy filing, followed by negotiations with the United States Trustee, to meet your objectives.
We will also help you access loans to help your firm recover, such as Paycheck Protection Program loans from the SBA.