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Should declare bankruptcy again

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Reference no: EM132961839

Problem 1: You are the CEO of the small 50-bed nonprofit Bluewater Community Hospital in central Wisconsin. Your hospital is struggling to attract patients, your rural location makes it hard to find good doctors, and you have been through bankruptcy twice before. Your board consists of well-meaning people in the community (a minister, a school teacher, a nurse, and other board members like this) but they do not have the resources to make significant contributions nor the expertise to help you turn around this hospital. You have had merger talks with a hospital 50 miles away in Big City, Wisconsin, but they have never succeeded in the past. The Bluewater Hospital is running low on cash. As CEO, decide what to do. Should you declare bankruptcy again? Should you let the nonprofit go out of business? Or is there some other creative solution?

Reference no: EM132961839

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