The current economic climate has impacted many professionals and entities operating businesses or owning real estate. Some of the companies most frequently experiencing these challenges include:
- Shopping center owners and real estate investors which have been severely impacted by the pandemic. Faced with the decline of brick-and-mortar businesses, and online shopping as the new reality, the pandemic only made these problems more severe.
- Business owners who are facing the current reality of being unable to secure supplies, employees, and/or operating capital.
- Many businesses have moved their payables from 30-days to 90-days demonstrating a weakening financial picture.
- Continuing sanctions against foreign countries have exacerbated the supply problem along with the backlog of ships in our ports waiting to offload their contents. The obvious result is a difficulty in distributing supplies to their ultimate destinations after they have been off-loaded.
If your firm is experiencing any of these issues, now is the time to seek counsel from experts, like DCR, to stave off potential chapter 11 bankruptcy. The first step is a thorough review of finances and a deep dive into alternatives to avoid the risk of bankruptcy of your company before things go too far. If you wait too long to deal with your financing issues it is often impossible to stave off bankruptcy. But early intervention and attention to the alternatives available early on are often a game changer.
