Retail businesses that operate largely in traditional malls and standalone stores, rather than growing their online presence, may find it more and more difficult to compete. After all, the costs of major real estate holdings and commercial leases can drive up the retail prices they must offer, lessening competitive strength.
Last time, an overview of the Chapter 11 process was discussed to provide you with some necessary information regarding the process and what it can do for your business. This article will delve a little deeper into what you can expect if you pursue this option to help resurrect your small business.
It takes a lot to make a small business succeed. From a strong business idea to securing investors to earning a profit, success often does not come cheaply or quickly. Over time, you may find that your business is no longer able to manage financial obligations effectively. You are behind on payments, creditors are starting to call, and you ultimately see no way out.