Covid Vaccine Gives Small Businesses Enough Hope to Go Bankrupt
- Challenges of pandemic operations kept many from filing
- Small company filings may rise next year as economy recovers
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Going bankrupt is expensive -- especially for small businesses. As the pandemic intensified, even companies with enough cash to try to reorganize in court lost faith that they’d be able to stay open after cutting their debts.
On March 28, Carol and Henry Huffman of Pike Creek, Delaware, simply closed down their specialty catering shop, the Cheese Chalet, and walked away rather than seek court protection from creditors and chance a reopening.