Take the money and pay off your creditors directly. Additionally, this procedure will help you identify your best employees and keep them from abandoning ship. Also, when you have concerns about how the buyer will integrate your enterprise and its workers after you sell, right now is the time to cover these points. * When you were in my shoes, what would you be doing now to rebuild this company?

There are several benefits to company bankruptcy as an alternative to receivership. Details of Chapter vii and Chapter eleven Corporation bankruptcy. I advocate that you use the Quick Process now and follow up with the formal program after your business has completed its rebuild. Do not sell if you're uncomfortable with their blueprints or when you feel that their reassurances are weak. * Sell your accounts receivable if you have any. In Texas, as in numerous other states, a bankruptcy case begins when the proprietor or people you owe file a petition with the bankruptcy court. Look at these as you go through the descriptions and it will help clarify the procedure for you if I have confused you. Obviously, the members of your senior executive team are going to assign specific duties to their direct reports. * You may want to close your enterprise (enterpreneurs and partnerships.) Likely, the difference will be on the account of timing issues such as outstanding checks not clearing or Accounting not posting the previous day's deposits. * Understand and accept the status of your small business.