Chapter 7 Bankruptcy for Small Businesses

Chapter 7 for Small Business Owners: An Overview

If you are a struggling small business owner, filing for Chapter 7 bankruptcy may help save your business or provide a simple way to liquidate it.

Why Most Small Businesses Won't File for Chapter 7 During the Coronavirus Pandemic

Small business owners often benefit more from filing for Chapter 7 personally and closing the business outside of bankruptcy. A struggling small business that an owner would like to remain open can restructure debt using Chapter 11, Subdivision V.

Small Business Closed Due to Coronavirus? How Chapter 7 Bankruptcy Can Help.

With small business stimulus loan funding already exhausted, business owners turn to Chapter 7 bankruptcy for help. Chapter 7 can help a service-oriented sole proprietor stay in business, and erase a former business owner's personal liability for some types of business debt.

Chapter 7 Bankruptcy for LLCs and Corporations

Chapter 7 bankruptcy can help corporations and LLCs going out of business by providing an orderly liquidation of the business.

Which Business Debts Are Discharged in Chapter 7 Bankruptcy?

Find out whether Chapter 7 personal bankruptcy will wipe out your business debt.

Can You Keep Your Business If You File for Chapter 7 Bankruptcy?

In some cases, you might not be able to continue operating your business when you file for Chapter 7 bankruptcy. There are some exceptions, however. Learn which type of businesses and business assets a bankruptcy trustee is likely to sell in a Chapter 7 case.