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New bill would simplify bankruptcy process for small businesses

ALL THE DIFFERENCE: Chris Carlozzi, Rhode Island state director for the National Federation of Independent Business, said making it less expensive for small companies to reorganize under bankruptcy protection can “make all the difference” between survival and going out of business. 
 / COURTESY NATIONAL FEDERATION OF INDEPENDENT BUSINESS
ALL THE DIFFERENCE: Chris Carlozzi, Rhode Island state director for the National Federation of Independent Business, said making it less expensive for small companies to reorganize under bankruptcy protection can “make all the difference” between survival and going out of business. 
 / COURTESY NATIONAL FEDERATION OF INDEPENDENT BUSINESS

Advocates for small businesses may finally get the legislation they’ve been seeking. Congress passed a bill in July to make it simpler and less expensive for financially troubled small businesses to file for Chapter 11 bankruptcy protection as a means of reorganization. “The Small Business Reorganization Act is a critical step in making sure that

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