More bankruptcy notices due to debtors this year
No sector is safe from bankruptcies. Many businesses are affected by it, and this is a nationwide trend. Some litigation agencies, especially those that deal with commercial clients, have noted a 40 per cent increase in the amount of bankruptcies. And all of this in just the past three months.
If you are running a business that is experiencing the first signs of trouble, it might be a good idea to find help. It is estimated that businesses owners suffer through the first six to eight months of trouble and then file for bankruptcy. So the businesses that are filing for bankruptcy now first experienced some difficulty at the end of 2007 and in the first few months of 2008.
While financial problems might not be the only causing factor, there has been a rise in divorce cases over the past year. Some agencies estimate they are receiving up to 20 per cent more such cases. This, as well as the growing number of bankruptcies, is cause for concern to any business owner