Tag Archives: Business Bankruptcy Filings
Chapter 11 Bankruptcy Considerations for Restaurants
What happens when a Tampa restaurant files for bankruptcy? It’s important to remember that filing for Chapter 11 bankruptcy doesn’t mean that your business will need to close. Given that Chapter 11 is a type of bankruptcy that involves the restructuring of debts—rather than the liquidation of assets and the “clean start” associated with… Read More »
The Role of the Trustee in a Chapter 11 Subchapter 5 Small Business Bankruptcy
If your business is struggling to remain afloat, particularly as a result of the COVID-19 pandemic, you may be thinking about your options for a small business bankruptcy. Many restaurants and bars in Tampa Bay have been under immense financial strain, as have other types of retail establishments in the area. If you need… Read More »
Chapter 7 for The Small Business Owner
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 »
Subchapter V of Chapter 11 for Small Business Debtors
Small business debtors in the Tampa Bay area that are planning to file for Chapter 11 bankruptcy should know that they can now elect to file for bankruptcy under Subchapter V of the U.S. Bankruptcy Code. This change occurred through the passage of H.R. 3311, also known as the Small Business Reorganization Act of… Read More »
Chapter 11 Bankruptcies and Commercial Leases in Shopping Centers
Shopping centers in the Tampa Bay area house many different types of businesses, from restaurants and bars to retail establishments. When a business in a Tampa Bay shopping center files for Chapter 11 bankruptcy, there are numerous issues that both the business owner and the commercial landlord will need to consider. While the business… Read More »
Involuntary Chapter 7 for a Tampa Small Business
When you are struggling to keep your small business in Tampa afloat, the prospect of facing a lawsuit from a creditor or debt collector can be extremely stressful. You may even be considering the possibility of Chapter 11 bankruptcy for your business in order to reorganize your debts and to get caught up on… Read More »
Closing a Restaurant in Tampa Bay
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 »
Changing Attorneys in the Middle of a Chapter 11 Bankruptcy
Sometimes when businesses in the Tampa Bay area consider filing for Chapter 11 bankruptcy, they quickly choose an attorney and begin the process of the reorganization bankruptcy. While some bankruptcy cases can work out for the small business filing for Chapter 11 even if that business does not have the best lawyer handling the… Read More »
COVID-19 SBA Loans and Personal Guarantees
Many businesses in the Tampa Bay area have struggled as a result of the COVID-19 emergency, and some are considering bankruptcy. As a result of the Florida governor’s stay-at-home order, businesses that were not identified as “essential” could not remain open with regular hours and regular employees. For those non-essential businesses, the coronavirus pandemic… Read More »
Chapter 11 and Paying Critical Vendors
If you own a restaurant or bar in the Tampa Bay area, or any other type of business, you may be thinking about filing for Chapter 11 bankruptcy if you are struggling to pay your debts. Given that many small businesses that were not designated as “essential” during the COVID-19 pandemic were forced to… Read More »
