Several years ago, you and a friend started an online home décor retail store. You each invested $30,000 to get the business off the ground. Profits were good for the first few years, then you began losing business as other large retail stores began selling online. While sales were dwindling, you kept purchasing inventory in hopes the market would bounce back. It didn't and now you must close the business. At last check, you owe these suppliers over $75,000; but there is literally $0 in the business bank account. You decide to shut the company down.

Question

Business

Rhianna Moody

14 September, 01:15

Several years ago, you and a friend started an online home décor retail store. You each invested $30,000 to get the business off the ground. Profits were good for the first few years, then you began losing business as other large retail stores began selling online. While sales were dwindling, you kept purchasing inventory in hopes the market would bounce back. It didn't and now you must close the business. At last check, you owe these suppliers over $75,000; but there is literally $0 in the business bank account. You decide to shut the company down.

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Mariyah Black · Answer 1

I do not really understand what your asking but, I think it would be appropriate to shut the company down. The 7500 also need to be paid so I'm thinking you have to pay it out of pocket.