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Providing High Quality Legal Services to Distressed Businesses
In today’s unpredictable market and economic instability, many businesses have found themselves dealing with significant financial losses, tax issues, nervous investors, and lenders and creditors demanding their money. Many companies consider bankruptcy their only option to overcome insolvency issues.
However, with the help of a skilled attorney, a company can utilize business restructuring methods to overcome its legal challenges and solve financial issues.
Our law firm works hard to help business owners protect their company’s assets and guard against future financial entanglements.
If you feel your business could benefit from restructuring, contact Venerable Law of Tampa Bay, Florida, to schedule a free initial consultation to learn more about your legal options. Our experienced attorney will gladly sit down with you to answer your questions regarding business restructuring matters and how we can help.
How Can Business Restructuring Help Struggling Businesses?
Business restructuring is an excellent tool for struggling companies to regain financial solvency. In other instances, business restructuring may be utilized when companies are preparing for a sale, buyout, transfer ownership, or complete a merger with another company.
The goal of restructuring is to leave the company in a better place financially to pay its debt and regain its footing in the market.
Business restructuring consists of operational and financial restructuring. Operational and financial restructuring are essential tools to help businesses identify specific problems and get back on their feet.
Operational Restructuring
Operational restructuring involves optimizing performance, reducing costs, and enhancing company productivity.
Financial Restructuring
Financial restructuring is critical to success for businesses struggling to pay debts or reach a favorable profit margin. During financial restructuring, attorneys evaluate the business’s transactions and investments and work closely with creditors and lenders to reorganize debts and develop innovative financing solutions.
Our legal team can also analyze health care, intellectual property, asset sales, and other areas of finance to determine long-term measures that can get your business moving in the right direction.
It is critical to note that not all business restructurings are the same, and as a result, every plan will differ significantly. For this reason, Venerable Law of Tampa Bay, FL, carefully evaluates a business’s structural operations and financial matters, and we can create a customized plan that will deal with concerns.
Is Bankruptcy Restructuring the Best Option for Struggling Businesses?
Many businesses in financial distress believe that Chapter 11 bankruptcy is their only hope to rid themselves of their debts. The United States Bankruptcy Court oversees all bankruptcy cases.
The Chapter 11 bankruptcy process is frequently referred to as reorganization bankruptcy. During the bankruptcy process, debtors can reorganize by creating a plan to repay creditors over a specified period. Businesses may continue to operate, but the bankruptcy court must approve any financial decisions. Additionally, the Official Committee of Unsecured Creditors (UCC) actively monitors bankruptcy cases to ensure that unsecured creditors who may have claims against businesses are represented in court.
However, bankruptcy court is only sometimes the answer to financial insolvency. Chapter 11 bankruptcy can be expensive and time-consuming.
Instead, Venerable Law can assess your business assets and debts to determine what legal strategy can benefit your company the most.
Contact our Tampa Bay area law firm to schedule a meeting with our knowledgeable restructuring attorney to discuss your potential legal options.
When Should I Begin to Consider Business Restructuring for My Company?
Business restructuring can seem daunting, and companies are often hesitant to make changes when experiencing a downturn. However, with the help of a skilled lawyer, companies can make informed decisions that enable them to avoid bankruptcy court and protect their investments.
Organizations should begin to consider business restructuring when the following situations begin to occur:
- Company revenue is steadily declining.
- The company’s debts become overly challenging to navigate.
- Your business is falling short of its key point indicators (KPIs).
- Insolvency is beginning to take hold.
- Your business can no longer compete in the market.
- The growth of your business is at a standstill.
If your business is in apparent financial distress, you cannot wait, hoping the situation will improve. Instead, to protect your investment, you must take proactive steps to make necessary restructuring changes.
Adequate planning will play a significant role in your business restructuring matters. Business restructuring can be overly complex and must be carried out with the help of a highly trained attorney who can help you make analytical decisions that will help your company become more robust in the long run.
Venerable Law of Tampa Bay can give you the legal counsel to make smart decisions that benefit your business, investors, creditors, and lenders.
Why Should I Trust a Business Restructuring Attorney to Help Me With My Legal Challenges?
Venerable Law is a widely recognized business law firm striving to put our clients’ needs first. Unlike lawyers who often encourage clients to pursue bankruptcy restructuring, our legal team strives to find creative solutions to reduce debt, satisfy creditors, and help your business meet its goals.
Our business restructuring attorney can act as your legal liaison and assist with negotiations with creditors and lenders to help avoid potential litigation. We understand that you have worked hard to build your company, and the last thing you want is to see it fail due to a lack of funding or claims from creditors.
Venerable Law offers clients a full range of legal services to help businesses overcome their legal challenges. We are passionate about our commitment to helping clients avoid court proceedings and help them deal with the legal issues that can prevent their business from progressing.
Contact our Tampa Bay, Florida, law offices by calling 813-680-4530 and ask to schedule a free no-obligation consultation to discuss your available legal options.