Law Office of Paul Petrillo

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Due to precautions related to COVID-19, we have expanded our options for remote consultations. Please contact our office to discuss whether a full phone consultation or video conference is appropriate for your situation. We can still accommodate in person meetings as well, while being mindful of social distancing guidelines.

Due to precautions related to COVID-19, we have expanded our options for remote consultations. Please contact our office to discuss whether a full phone consultation or video conference is appropriate for your situation. We can still accommodate in person meetings as well, while being mindful of social distancing guidelines.

Due to precautions related to COVID-19, we have expanded our options for remote consultations. Please contact our office to discuss whether a full phone consultation or video conference is appropriate for your situation. We can still accommodate in person meetings as well, while being mindful of social distancing guidelines.

Asset liquidation options for Nashua businesses

| Nov 24, 2017 | Chapter 11 |

Running a business takes quite a bit of energy, time and dedication. No matter how much time and effort you put into a company it can still struggle to the point where bankruptcy is necessary. When your business runs into cash flow issues you have options to help recover from a difficult financial situation. Today, we will discuss the asset liquidation options available for Nashua businesses.

If your company needs cash fast it’s best to liquidate stocks and bonds of the company first. These assets are held on an open market that is available five days per week. Once liquidated, the cash will become available in just one or two business days. You will not get the best value when liquidating these assets since they are done so quickly.

You could consider an auction of your company’s assets. This takes time to organize. You will need to assign a value to all of your assets and create a description for each one. You then need to advertise for the auction so that you get a big enough turnout to make it worthwhile.

As with any other company, you could always hold a going-out-of-business sale. Prior to setting up such a sale you should check with the laws in New Hampshire to make sure there are no restrictions. The sale should be kept at just three days. With each passing day you can reduce the prices by 50 percent in order to sell as many assets as possible.

Is your company headed for Chapter 11 bankruptcy? An experienced bankruptcy attorney can help you prepare for asset liquidation and all other processes related to filing in New Hampshire.

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