When bankruptcy is not the best option

Bankruptcy can be expensive, often too expensive. The cost of a Chapter 11 reorganization proceeding for a small company, one with $10 million in annual revenue for example, is nearly as much as a larger company with 10 times the amount of revenue. Many companies facing financial difficulties these days simply cannot afford a bankruptcy reorganization, and they end up liquidating - either in a Chapter 7 bankruptcy or by turning over the keys to the secured lender.

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When bankruptcy is not the best option

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