Restructure Business Debts & Obligations
I see my job as to keep you out of lawsuits- and to keep you out of bankruptcy
When we form businesses and and make investments, we only see the good side and hope for positive outcomes. But we have all had business ventures go in the wrong direction and/or had investments not turn out as hoped. We come across bad people we had not anticipated, bad information on which we relied, bad economies we did not foresee, and new technologies we did not anticipate. I know I have personally made investments that have done very well, while engaging in other ventures which have been a total bust. The same goes for my clients. Some succeed- some fail. It is a part of entrepreneurship and it is part of representing businesses and entrepreneurs.
Businesses run into trouble for many reasons. Lower revenues is the biggest problem. But even if revenues are high and remain strong, businesses can suffer from: lowered margins, higher input costs, unfavorable contracts, real estate costs, growing competition, operational inefficiencies, customer payment problems, marketing costs, online defamation and/or legal problems.
Neil Siskind’s over 22 years of experience advising small businesses and asset based investors in their product and service business operations and their asset based investments may help you to define your issue(s) and take the steps to solve the problem(s) that your business is facing. Neil has helped small and large businesses to pinpoint issues and develop strategic solutions in both outside counsel and in-house counsel capacities. Clients have included product wholesalers, retailers, investors and service providers.
Together we can figure out the issues, or, if you know the cause of the problems, discuss ideas available to resolve them. Solutions may include any or all of the following: Re-negotiating vendor agreements; re-negotiating sales and distribution contracts; locating new product suppliers; relocating offices; canceling leases; opening or closing corporations; redirecting or redeploying capital; developing online marketing tactics; changing product or services mixes; adding new products or services that compliment existing distribution or existing customers; repairing reputations; expanding margins; finding new distribution outlets; adding outside sales; implementing operational efficiencies; fixing account payable and receivable practices; evaluating financing options; re-negotiating loans; developing human resource policies; and/or dealing with partnership issues. These or a variety of other solutions may come into play. I have faced many small business challenges in my career and can help you to resolve yours. Of course, I would have to discuss your particular product, service and business model and work with you to pinpoint the issues and options.
Unlike bankruptcy lawyers, my goal is to improve upon your existing business, refine any under-performing parts and develop new operational practices to increase product or service exposure, revenues and profits. While bankruptcy can be an option if: (i). debt-related obligations exist, and (ii). the debts are are the primary cause for your businesses’ profit challenges, and (iii) the legal and financial standards for entering into a bankruptcy restructuring are met, bankruptcy is something I use all options to avoid. Bankruptcy has benefits and drawbacks which you can discuss with a bankruptcy attorney if we should determine that to be a viable option. But bankruptcy attorneys are generally skilled with restructuring debt within the bankruptcy process, as opposed to turning around a variety of business aspects and operational practices outside of the bankruptcy process.