If hibernating a small business is turning out to be impossible, there should be a way to do a soft-landing bankruptcy via a fast-track online court. Court discharges a fraction of the liabilities, terminates contracts, and lets owner look for alt life with a small starting stake
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Replying to @vgr
Idk fam, I see what you're saying, but also we still want to keep a lot of those businesses for post-pandemic times. Like do we really just want the entire restaurant, bar, gym industries to completely fail and then start over from scratch in 18months? Hibernation is better imo
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Replying to @Morgan_Anastasi @vgr
Also these businesses haven't really "failed" in any traditional sense. Making entrepreneurs declare bankruptcy because of a once-in-a-century black swan event like covid - even when all the other fundamentals of their bar or gym are sound - just seems crippling. Idk.
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Who said anything about making them. Just an option for the many who likely want to quit.
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