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Options for Commercial Property Owners With Distressed Assets
Cyclical challenges in the economy are nothing new, and 2022 is shaping up to be that kind of year for business owners nationwide. This is likely to result in a greater need for the services of bankruptcy attorneys as business owners face a mounting wave of distressed financial assets.
While many business owners may be tempted to put off facing those distressed assets, ignoring the problem will not make it go away. Like a person ignoring the signs of a serious illness, business owners in financial trouble who seek expert counsel early have a far better chance of saving their business, their employees' jobs, and their reputations in the marketplace. A thorough review of the financial situation can help business owners identify alternatives and avoid the risk of bankruptcy before things go too far.
And unfortunately, a wave of economic indicators is mounting on the horizon, as signed by a recent headline "Economic Forecast 2022 and Beyond: Good Now, Scary Later" (Forbes, March 7, 2022).
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