dissolving an L.L.C...best avenue to take?
Our Health Club is being sued by the state A.G. office due to a
recent buy of another health club and the members evidently are
not 'assignable' and funds are to be returned. $7k loss per month.
Our Health Club is struggling due to a recent fire and problems
with obtaining all the insurance proceeds due the L.L.C.
With said two (2) strikes our options (?) are:
a) restructure (...leaving behind some debts)
question: what does that mean?
b) cash call (...investors have yet to see return in 2years)
question: is this even legal or a bogus effort to get more money?
c) sell-out (...and hope to acquire as much as possible)
question: does a buyer indicate that this 'club' is actually a good investment?
sorry for not giving details on monies, but I just wanted more of
a general idea of what these options really mean?
thank you very much