If you operate a business and it is struggling financially, you may be considering Chapter 11 bankruptcy. Typically, someone who files under Chapter 11 has a business that is generating money but is having serious financial difficulties due to debt obligations that far exceed monthly revenue.
Purpose of Chapter 11 Bankruptcy
The objective of Chapter 11 is to give your business the chance to restructure secured debt and discount unsecured debt to an amount where your business is capable of returning to growth so you can stay in business while still servicing the debt.