Companies go through reorganization for various reasons. Purposes include improving efficiency, cutting costs, repositioning the business, and dealing with corporate changes such as mergers and acquisitions. The restructuring may involve changes to departments, business units and employee roles, and often includes significant layoffs. Corporate reorganization normally occurs following new acquisitions, buyouts, takeovers, other forms of new ownership in the threat of filing bankruptcy.
If your business is struggling with debt, bankruptcy may provide some relief. Whether bankruptcy can help depends on many factors, including:
- the legal form of your business – for example, is your business a sole proprietorship, general partnership, corporation, or limited liability company
- whether you are personally liable for business debts
- whether you want to close your business or keep it running, and
- how much and what types of debts you have.
Our practice can provide solutions to all varieties of Bankruptcy and Debt related problems including:
- Collection matters;
- Tax trouble;
- Liens & seizures;
- Appeals; and