Bradaigh t1_jdjr9xs wrote
Reply to comment by macaroniking69 in This café in the West Village is now owned by its own employees by geoxol
It's almost definitely organized as some kind of limited liability company, which means that the employowners, like the rest of the owners, are on the hook in that if the business goes under their share of the company is worthless, but they're not personally liable for the debt of the company.
djdjddhdhdh t1_jdkg9i2 wrote
Well that depends as most business owners in the beginning at least usually have to personally guarantee loans and credit lines. Although cafe has equipment they can use as collateral for the first loan maybe
Viewing a single comment thread. View all comments