Running a business often involves considerable discomfort, risk and often makes it difficult for entrepreneurs to function normally.

Usually, the bankruptcy of a company is the result of a long process that can be predicted. The key to staying out of bankruptcy is to exercise ongoing control over the company's finances and make responsible decisions.

Here is some advice on what to do to avoid bankruptcy:

1. Conduct an analysis the economic situation of your company

2. Consult with a restructuring advisor who will help you understand the legal processes involved in restructuring and present your options for bankruptcy protection.

3. Prepare a restructuring plan, which you will present to the restructuring advisor. Together you will decide whether to open restructuring proceedings.

4. agree with your advisor restructuring possible date for the announcement of the opening of the simplified. restructuring proceedings. Under the current rules, the announcement of the opening of the simplified restructuring procedure suspends executions.

5. negotiate with creditors, when engaged in a restructuring process, creditors may be more willing to reach a settlement/agreement and suspend enforcement actions.

Above all, it is important to remain calm and take sensible action when a company is about to go bankrupt. It is also important to be proactive, to look for a way to repay the debt. Passivity and avoiding contact with creditors is the worst solution.