Quote:
Originally Posted by fotze
Can you just dissolve a business? Do you have to declare bankruptcy? Surely there has to be more to it that just dissolving a business and then all the creditors just say "oh well"?
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I helped a small company once that basically just sent all its stuff back to where they bought it from (equipment, inventory) and shut the doors. If there are creditors out there they likely wouldn't bother petitioning such a company into bankruptcy, because the costs would not be recovered anyway, let alone the money owing.
Kind of a do-it-yourself bankruptcy... Wouldn't work in a lot of cases but did in this particular one.