Business Terms Glossary
Workout
Definition of Workout
Workout is a negotiated agreement between the debtors and its creditors outside the bankruptcy process.
In a workout situation, creditors grant concessions to the company in order to minimize their losses. For example, taking 75 cents on the dollar may be a better alternative than watching the company dissolve in a Chapter 7 liquidation and getting nothing at all.
Workout References On This Site
These Gaebler.com articles mention this glossary term:
- Health and Fitness Franchises - They offer customers a great place to workout at an unbelievable price...
- Health and Fitness Franchises - They offer customers a great place to workout at an unbelievable price...
Share this article
Additional Resources for Entrepreneurs