Can I continue to operate my business during a Chapter 11 bankruptcy?

Yes, it is possible to continue operating your business during a Chapter 11 bankruptcy in Washington. Chapter 11 allows debtors to shed some of their debt while reorganizing their business and making changes to their finances. During a Chapter 11 bankruptcy, a debtor can create a reorganization plan that details how they will manage their debt in the future. In order to achieve this, a debtor must secure approval from the court and creditors. If the court and creditors approve of the reorganization plan, the business can continue operating while the plan is taking effect. As part of the Chapter 11 process, the debtor has exclusive control of the business, meaning that creditors cannot take any action against the business during the bankruptcy. The Chapter 11 process does not immediately absolve the debtor of their debts. Rather, it allows them to restructure payments to their creditors over the course of several months or years. During this time, the business can continue to operate and make payments under the reorganization plan. In conclusion, it is possible to operate a business during a Chapter 11 bankruptcy in Washington. The business must be able to successfully create a reorganization plan and secure approval from the court and creditors in order to continue operations. With approval, the business can make payments to its creditors over a period of time while continuing to operate.

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