Read the scenarios below to decide whether or not bankruptcy would be appropriate for the business. Be sure to explain your answer. b. Battle River Restaurant opened in April 2014, and offers family style meals for a low price. Robert is
the owner and restaurant manager. He took out two business loans and one personal loan to open the
business. He bought all of the kitchen equipment by establishing a line of credit with the supply store,
and used one of the loans to refurbish an old mill for his venue. After 14 months, the restaurant has not
done as well as Robert would have liked, and he has missed four payments to both the supply store and
the bank. In an effort to cut costs, he has reduced the staff by 25 percent and only serves dinner. While
he is unwilling to give up on his dream of owning and operating a successful restaurant, 3 months later
he is still unable to make payments on the debts. Robert had decided to declare bankruptcy (2 points)