By now, no one needs to tell you that there is a virtual epidemic of bankruptcy cases throughout the country. If you are the CEO of Hertz, Neiman Marcus, or GNC, your company is represented by a large, multi-national firm with a bankruptcy department. You probably had many meetings with lawyers in numerous departments, from corporate to litigation, to bankruptcy, before you decided to file.
But, what if your company is not Hertz or Neiman Marcus? Maybe you have a corporate counsel or maybe you only hire an attorney when you need one. Up until March of this year, your business was doing just fine. Perhaps you were on your way to record profits. Then, the pandemic hit. You had to shutter your business in March and, even though you did not have any revenue for three months, you still had expenses.