Bankruptcy is something many businesses need to deal with, especially those that are small or just started their operations. It is quite common to see how small businesses have to close their doors after just a few years or even months of being launched to the market. Reality has shown that small companies are the […]

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Contestant:  I’ll take American Business Stats for 500. Host: 25,970. Contestant: What is the amount of companies that have filed for bankruptcy up until August 2017. Host: That is correct! You read correctly.  In 8 months, almost 26,000 companies have filed for Chapter 7, 11, 13 or 15 bankruptcies.  Those are actually pretty normal numbers, […]

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Wikipedia defines bankruptcy as “a legal status of a person or other entity that cannot repay the debts it owes to creditors”. Depending on the situation, the status of bankruptcy can be imposed by court order or declared by the debtor. The primary purpose of bankruptcy is to allow the individual or company to shed […]

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