When your business started facing financial struggles, you may not have felt an immediate sense of panic. Most companies face losses and are able to get back on track by utilizing the right business strategies. However, now that your company's financial situation has gotten increasingly worse, you may worry that recovery is no longer an option and that you may have to close down.
Before you start the process of dissolving your business, you may wish to consider certain efforts that may help your company financially while also giving you the opportunity to keep the doors open. Filing for Chapter 11 bankruptcy helps many businesses deal with creditors, lenders and other factors relating to financial issues. However, you may think that this route will cause more harm than good.