Not As Lucky

In these hard times, so many companies are complaining about very low sales.  If the "bi-times" are complaining about their sales, what more with small business owners like me?   My family owns a small grocery store.  It was a good source of income and we have enjoyed a very comfortable life out of it.  When the recession started, the sales dropped by 50 percent.  There are also other stores that opened around our area and that too affected our sales.  But I am still thankful that we still have a source of income.  It may not be as big, but it's more than enough to send my kid to school and buy the things that we need.

My friend is not as lucky though.  Her family is into the paper business.  They supply most of the papers -- typewriting, receipts, continuous paper, etc -- to a lot of companies around our area.  For the past three years, their company has been struggling financially.  They cannot pay their creditors anymore and lawsuits against their companies have been filed left and right.  Their lawyers advised them to close the company.  It was very difficult for their family but they'd rather go bankrupt and use their remaining assets to repay their debts than let the interests from the loan accumulate.  That will put them in a more difficult situation.  Their lawyers are trying to come up with a good debt solution.  They want to polish everything before filing for bankruptcy.