Can I file for bankruptcy if my business is a Corporation or Limited Liability Company?

corporation bankruptcy

If you operate your business as a Corporation or a Limited Liability Company, the bankruptcy trustee will be able to liquidate your business, sell the actions, or sell the ownership of the business.

You may be able to buy the business back, but if you need to borrow money from your friends or family this may get you into even more financial problems than you already have.