Business Closure Planning
Closing a business isn’t necessarily failure. Sometimes it is the most intelligent business decision an owner can make.
The real danger is closing without a plan.
A struggling company may leave behind unpaid vendors, leases, taxes, equipment financing, SBA loans, employee obligations, merchant cash advances, lawsuits, personal guarantees, and other liabilities. Simply locking the doors does not necessarily make those obligations disappear.
River Debt Defense, APC helps individuals and business owners develop strategies for dealing with federal tax debt and IRS collection problems.
That begins with understanding exactly what remains.
01 - We examine the company's assets, secured and unsecured debts, outstanding contracts, taxes, leases, guarantees, receivables, pending litigation & potential personal exposure.
02 - We undertake creditor negotiations, debt resolution strategies, bankruptcy analysis, and planning for liabilities that survive the shutdown.
03 - We help identify the legal and financial issues that should be addressed as part of the closure.
04 - We facilitate coodination with tax professionals or other advisers.
The objective is to make the decision deliberately.
Owners sometimes continue putting personal money into a company long after the economics suggest that recovery is unlikely. Others abruptly shut down without considering the consequences. Neither extreme is ideal.
- End a business with a clear plan.
- Protect what can legally be protected.
- Address unresolved obligations.
- Prepare for whatever comes next.
Our goals are to:
Ending one business can also be the beginning of your financial recovery.
You spent years building your business. If it is time to close it, you deserve the opportunity to do so thoughtfully.
Protect what can legally be protected
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Address unresolved obligations
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Prepare for whatever comes next
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