The following entrepreneurs have come to the end of their small business life cycle. Can you tell how they ended their business?
- Chiyoko was able to sell her restaurants assets and use these proceeds to pay off her debts and still have something leftover for retirement.
- Akeem’s son took over the family business.
- Howard’s debts far exceeded his assets to the point that he was forced to close his restaurant.
- Vivian was tired of running her florist shop and gave it to her assistant.
- Lupita closed her business, but needed several months more to finally pay off its debts.
- Roseanne’s gift shop was absorbed by a chain of gifts shops in the area.
- Delores’ employees purchased all the stock of her glass manufacturing company and took over ownership.
- Melva was able to close the doors of her clothing store after paying off all its obligations.
