Now is the time for struggling small businesses to explore a strategic bankruptcy reorganization

Now is the time for struggling small businesses to explore a strategic bankruptcy reorganization

If struggling small businesses want to survive long enough to meet the economic recovery forecast for the second half of 2021, they should start considering a strategic bankruptcy reorganization now, ahead of the impending March 27 deadline for using the protections. bankruptcy enhancements that have become available to many. small businesses in spring 2020.

More federal economic stimulus seems likely, but if the paycheck protection program is any guide, much of that money will not end up in the hands of the small businesses that need it most. Small businesses may soon face increasing collection pressure from banks, homeowners and other creditors who will become less willing to enter into forbearance agreements or other accommodation in the face of …

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