Baytown Chapter 11 Bankruptcy Lawyers
For a broad variety of reasons, many small businesses fail. How many? In the United States, fewer than half of new enterprises last more than five years. One factor that plays a particularly strong role in sinking the hopes of entrepreneurs is the initial debt that they must take on to open their doors. In the early stages, there are immense costs and few revenues, and that gap often proves crippling.
If you have found yourself in this troubling situation, the protection of Chapter 11 bankruptcy may allow you to salvage your business before it is too late. The Baytown Chapter 11 bankruptcy lawyers of Gipson, Norman & Root offer all our clients a free initial consultation, so contact us today at 800-291-0898 to learn more about how we can help your business.
A Common Sense Solution
Because your business has to be operational in order to generate the income that you need to satisfy your debts, it makes sense that a Chapter 11 filing enables you to do just that. Under a Chapter 11 bankruptcy, you have the opportunity to restructure your debts and negotiate with your creditors to establish new terms of repayment without having to suspend business operations. For many companies, this gives them the time they need to get debts under control. Following Chapter 11, a Bankruptcy Judge will review the disposition of the case and decide whether a company must:
- Emerge from bankruptcy and resume normal business without restrictions.
- File for Chapter 7 bankruptcy and liquidate assets to repay creditors.
Contact Us
Your present struggles do not have to mark an end to your dreams of small business ownership. Contact the Baytown Chapter 11 bankruptcy lawyers of Gipson, Norman & Root at 800-291-0898 and let us help your business live to fight another day.
