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Category Archives: Restaurant Bankruptcy

BankAtty

What Happens When a Business Got SBA Loans and Later Went through Bankruptcy?

By Samantha L. Dammer, P.A. |

In Spring of 2020 and later, many businesses throughout the Tampa Bay area received SBA loans as a form of COVID-19 relief. Those loans included loans through the Economic Injury Disaster Loans (EIDL) program and Paycheck Protection Program (PPP) loans. For some of those businesses, the loans were sufficient to cover the significant losses… Read More »

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Bankr19

Personal Guarantees on Commercial Leases When a Business Closes or Files Chapter 7

By Samantha L. Dammer, P.A. |

When a business in the Tampa Bay area is struggling to pay its debts and to keep its doors open, the business owners might be considering the possibility of business bankruptcy or closure. For many businesses, Chapter 11 bankruptcy is the best option because it allows the business to remain open while reorganizing debts… Read More »

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In Bankruptcy Because of Seller Fraud in a Purchased Business

By Samantha L. Dammer, P.A. |

All too often we meet clients who moved down to Florida with hopes of being in business for themselves. The story is the same each time.  Sadly, a bad business purchase can lead to the loss of life savings, retirement funds, and personal bankruptcy. Meet “Bob” from Michigan. Bob worked in the corporate world… Read More »

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Chapter 7 for The Small Business Owner

By Samantha L. Dammer, P.A. |

Chapter 7 Bankruptcy for The Small Business Owner Part One:  Why Would a Small Business Need to File A Bankruptcy? A colleague asked me this morning why a small business would need to file a bankruptcy, instead of simply closing down and walking away.  Of course the owner might be facing personal guarantees for… Read More »

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RestaurantBank

Bar/Tavern Chapter 11 Bankruptcy

By Samantha L. Dammer, P.A. |

Anyone who currently owns or is thinking about opening a bar or tavern in the Tampa Bay area knows just how popular these establishments are with residents and visitors alike. For example, a list on TripAdvisor shows that bars, taverns, and pubs such as Coppertail Brewing Company, World of Beer, Clooney’s Wine Bar, and… Read More »

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BankrLaw2

Closing a Restaurant in Tampa Bay

By Samantha L. Dammer, P.A. |

Closing a Restaurant or Bar in Tampa Bay? The COVID-19 virus has wreaked financial havoc for bars and restaurants in Tampa.   On  March 17, 2020, the Governor ordered all bars to be closed temporarily, and restaurants could only provide take-out services.  Many business owners decided to close down completely.  This was of course a… Read More »

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BankrLaw2

Recent Changes to Bankruptcy Law: What You Should Know About the Small Business Reorganization Act

By Samantha L. Dammer, P.A. |

Recent changes to U.S. bankruptcy law make it easier for small businesses and individuals to file for bankruptcy. More specifically, the Small Business Reorganization Act of 2019 (H.R. 3311), as well as the HAVEN Act (H.R. 2938) and the Family Farmer Relief Act of 2019 (H.R. 2336) have been signed into law and took… Read More »

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Chapter 11 for Restaurants and Handling Payroll Taxes

By Samantha L. Dammer, P.A. |

Bar and restaurant owners in the Tampa Bay area know how much effort it takes to run a successful business. Even the most hardworking restaurant owners can struggle with debt, and they may need to seek help from a bankruptcy lawyer in order to get back on track. You will first need to decide… Read More »

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Chapter 11 Post-Petition Payments to Food Vendors

By Samantha L. Dammer, P.A. |

When a restaurant or bar in the Tampa Bay area files for Chapter 11 bankruptcy, many of its suppliers may worry about whether they will receive payment for goods or services they have already supplied. Most vendors will assume that they will ultimately be repaid as long as they take the necessary steps in… Read More »

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RestaurantBank

Small Business Chapter 11 Cases for Restaurants

By Samantha L. Dammer, P.A. |

What Questions Should You Ask Before You File For Chapter 11 Bankruptcy in Tampa? As many restaurant owners in the Tampa Bay area know, business can be tough at certain times of the year. Given that much of the South Florida economy is based on tourism during the fall, winter, and spring months, the… Read More »

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