COVID-19 is a challenge for businesses
A customer who has been running a restaurant in New Jersey for a long time came to the bankruptcy team of Song Law Firm.
After opening a restaurant, it was popular for a while and had a good income. However, when the customer’s restaurant did well, competitors with similar menus appeared around him. Over time, the customer’s restaurant’s sales declined, and eventually they were unable to pay the rent for the building. At first, I got the landlord’s permission and persevered, but the situation did not improve after several months, and the overdue rent exceeded tens of thousands of dollars. When this happened, the landlord couldn’t wait any longer and eventually filed an eviction suit in court. The customer’s personal guarantee was included in the restaurant lease agreement, so the customer who could not survive this situation decided to go bankrupt.
The bankruptcy team of Song Law Firm quickly prepared for bankruptcy and stopped the eviction process. In addition, it successfully closed bankruptcy, canceled all overdue rent, and invalidated the lease agreement.