Does this mean the owner has no money? Or does this mean the owner is no longer making money? Or is it something else?
In: Economics
All it really means is the the business is no longer able to service (pay) its debts with any real ease, so they are asking the courts to step in and help them deal with outstanding creditors.
The business could still have money, and the owner could still be gaining wealth, but the business itself may be struggling to pay its current or future debt obligations.
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