Running a business in the Bronx is tough, and sometimes the numbers just don’t add up. If debt is piling up and cash flow is tight, you’re not alone. When vendor problems or sudden setbacks threaten your company, business bankruptcy options can help you reorganize, protect what you’ve built, and keep your doors open.

Understanding Business Bankruptcy Types

Every business faces different challenges, and not all bankruptcy solutions are the same. At Adonon & Associates, we help Bronx business owners figure out which path makes the most sense. Whether you need to restructure your debts or wind things down the right way, we’ll walk you through your choices in plain language so you can make smart decisions for your future.

Chapter 11 Bankruptcy for Businesses

• Keep running your business
• Reorganize debts into manageable payments
• Renegotiate contracts and leases
• Stop creditor lawsuits
• Create a fresh business plan

Chapter 11 gives you the chance to restructure your business debts and stay open for business. We’ve seen companies from Fordham to Hunts Point use this option to get through tough times and come out stronger on the other side.

Small Business Bankruptcy Solutions

Subchapter V of Chapter 11

• Simpler than standard Chapter 11
• Lower costs and faster process
• Keep business ownership
• Create 3-5 year payment plan

This newer bankruptcy option is designed for small businesses that need a quicker, more affordable way to reorganize. Our legal team at Adon & Associates guides owners through this process to stop creditor harassment and protect your company and your employees.

Chapter 7 Business Liquidation

Sometimes, closing the business is the smartest move. Chapter 7 bankruptcy lets you wind down operations, sell off assets, and handle creditors in an organized way. This approach helps you close up shop properly and shields you from future liability.

Steps Before Filing Business Bankruptcy

Preparation is everything. Gathering your financial records, reviewing contracts, and setting clear goals can make all the difference. We help business owners across the Bronx look at every debt settlement option before moving forward with bankruptcy, so you know you’re making the right call.

Life After Business Bankruptcy

Plenty of companies come out of bankruptcy and keep going strong. The key is having a real plan for what comes next. Whether you’re reorganizing or closing down, bankruptcy can give you a clean slate and the chance to rebuild smarter and stronger.

Get Started with Business Bankruptcy in the Bronx

Contact Adon & Associates at 718-275-1243 or schedule your free consultation to talk about your business bankruptcy options today.