Nashville · Tennessee
Business Bankruptcy Options in Tennessee
Whether you're looking to restructure and save your business or wind down operations responsibly, our attorneys can help you understand your options.
Business Bankruptcy Solutions
Every business situation is different. Here are the most common paths forward.
Chapter 7 Liquidation
Close your business and liquidate assets to pay creditors in an orderly fashion. Eliminates personal liability for business debts in many cases.
Chapter 11 Reorganization
Restructure your business debts while continuing operations. Create a court-approved plan to repay creditors over time while preserving your business.
Chapter 13 for Sole Proprietors
If you're a sole proprietor, Chapter 13 lets you restructure both personal and business debts into a single manageable repayment plan.
Protecting What You've Built
Keep Your Business Operating
Chapter 11 and Chapter 13 allow you to continue running your business while restructuring debt. You maintain control of daily operations while working with creditors through the court.
Separate Personal from Business Liability
Understanding which debts you're personally liable for is critical. An attorney will help you identify personal guarantees, determine which debts can be discharged, and protect your personal assets.
Stop Lawsuits and Collection Actions
The automatic stay halts all pending litigation, collection efforts, and creditor actions against your business. This gives you breathing room to evaluate options and make informed decisions.
How Business Bankruptcy Works
Confidential Consultation
Call to discuss your business situation. An attorney will review your business structure, debts, and goals to recommend the right approach.
Strategic Analysis
Your attorney evaluates assets, liabilities, contracts, and leases to develop a strategy — whether that's restructuring, selling, or orderly dissolution.
Filing & Immediate Protection
Upon filing, the automatic stay protects your business from creditors, lawsuits, and collection actions while the plan is developed.
Resolution
Execute the approved plan — whether that's reorganizing debts and continuing operations, or liquidating assets and closing responsibly.
Business Bankruptcy FAQ
Should I file business bankruptcy or just close my business? + –
Closing without filing may leave you personally liable for business debts, especially if you signed personal guarantees. A bankruptcy attorney can help you understand the implications of each option.
Will I lose my business if I file Chapter 11? + –
No. Chapter 11 is specifically designed to let you keep operating while restructuring debt. You remain in control as the "debtor in possession" and work with the court to create a viable repayment plan.
Am I personally responsible for my business debts? + –
It depends on your business structure. Sole proprietors are personally liable for all business debts. LLC and corporation owners generally aren't — unless they signed personal guarantees. An attorney can review your specific exposure.
Can I file bankruptcy for my LLC? + –
Yes. An LLC can file Chapter 7 (liquidation) or Chapter 11 (reorganization). The right choice depends on whether the business is viable and your goals for the future.
Facing Business Debt? Get Expert Guidance.
Call for a confidential, no-obligation consultation about your business bankruptcy options.