As painful as it may be, there are times when it is necessary to liquidate or shut down a business.  Vicky M. Fealy has helped many small businesses through this process, inside and outside of the bankruptcy context. It is important to consult an expert who knows the ins and outs of shutting down a business, including dealing with personal liabilities for the principals of the business. Whether negotiating with creditors or fully liquidating through bankruptcy, seek out expert advice as soon as possible to minimize the ramifications and protect personal assets when possible.