The government-imposed restrictions and social distancing practices that have been implemented to combat the spread of COVID-19 have led to significant economic hardships for many businesses, especially those in the retail, hospitality, and personal services industries. Unfortunately, many of these companies have or will become insolvent, and may eventually face bankruptcy. This article will provide an overview of some possible alternatives to bankruptcy that companies should consider if they find themselves in financial trouble.

Bankruptcy vs Insolvency