My question involves bankruptcy in the state of: California
Well my family and relatives own multiple family restaurants, each restaurant under a seperate LLC. In this down turn economy, we have been forced to close the doors on one of our locations and have been paying the lease on a 14k sq ft location. We are not able to continue paying the lease with the doors closed and have visited a bk attorney. Unfortunately, my family speak very little English and were not able to comprehend everything from the meeting. My question is, If one of the LLC does file for bankruptcy, can the landlord pursue us for our other LLC's and restaurants and our personal property (homes, cars, etc). We have 3 other operting restaurants that are barely breaking even in this economy and each of those 3 restaurants are formed under individual LLC's. Thanks for your help in advance. This is a very traumatic time that we all face and I look forward to your thoughts.