The poor economy has left some with no choice but to shutter their restaurants. Many choose to simply surrender their keys to the landlord, while others elect to file for bankruptcy. Others liquidate outside of court because a bankruptcy proceeding may place the restaurant under the control of a trustee. The following focuses on some issues you may face when liquidating out of court. Lease: When you close your doors, you may not be prepared to vacate the premises. Because many leases ...
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