Businesses going out of business?

Factual Questions
1

I am not a business person, I’m the worker bee. I need to know what “in receivorship” means as related to a business that is having financial trouble (last 3 payroll checks either bounced or couldn’t be cashed on the day issued). Should I be printing up new resumes right away, or should I expect new owners with great ideas and positive attitudes??? And if it’s the latter, what would the timeline
most likely be? Weeks, months, years?

Thanks. Pray for me :confused:

2

Receivership

So, resumes might not be a bad idea.

3

Resumes should be readied * when the first paycheck bounces* regardless of the status of the company, in my opinion.

4

  1. Yes

  2. Yes. However, the great ideas may be “go into bankruptcy and wash our hands of this mess.”

  3. May be tomorrow morning.

Send out them resume rascals pronto!
hh

5

You should have been mailing out resumes the moment the first paycheck bounced. It’s possible they might get things straightened out, but it’s much more likely that they’ll just close up shop and liquidate the business’ assets.