Attorney specializing in commercial litigation and business insolvency/bankruptcy reorganizations. Purdue (1999), Indiana (JD 2002), and Vanderbilt (MBA 2014).
Not soliciting here, but businesses with questions about how to handle this crisis should reach out sooner rather than later to a lawyer who knows their way around financial distress situations.
Lawyers who help companies in financial distress have seen phone calls spike in recent days, and it feels like it is going to get more intense in the coming weeks. No two companies are exactly the same, but some things to think about...
Circumstances will vary a lot, but deciding to cut off the bank or landlord from April payments (as opposed to waiting until May) may be the difference between staying in business or not. Pretty good decisions made today will be better than perfect decisions made later.