A business that cannot pay its debts has more options than most owners realize, and the choice among them is usually made too late. This article explains what restructuring actually accomplishes, how Chapter 11 and the streamlined small-business track differ from liquidation, and why the automatic stay is the single most powerful tool in the system. It covers the debtor-in-possession structure, the plan process, the priority rules that determine who gets paid, and the sale mechanism that has largely replaced traditional reorganization. Separate parts address the alternatives — workouts, assignments for the benefit of creditors, receiverships, and orderly wind-down — and the creditor side, including preference exposure, fraudulent transfer risk, and how to protect a claim. It also explains what bankruptcy does not do: it does not discharge a corporation's debts the way it discharges an individual's, and it does not touch a personal guaranty. Examples run throughout. The article is written for owners, creditors, and lawyers new to the field.