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Subject: Re: When a company goes out of business
From: Bill Mossburg <[log in to unmask]>
Reply-To:Records Management Program <[log in to unmask]>
Date:Wed, 19 Nov 2008 16:14:41 -0500
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That's a tough and sobering question.

I was part of a family business that went under quickly. We did not have
a great deal of records, but some of them were lost. I actually had the
IRS send me back some records that I never sent them. I think an
"unhappy" employee sent these records to them to cause trouble.

 


Bill Mossburg
Infolinx Records Management
10800 Connecticut Avenue
Kensington, MD 20895
240.994.5580 (Cell Phone)
240.283.1972 (Office)
301.962.3280 (Fax)
www.infolinx.com
  
"Obstacles are what you see when you take your mind off the goal"

-----Original Message-----
From: Records Management Program [mailto:[log in to unmask]] On
Behalf Of Tom Wilson
Sent: Wednesday, November 19, 2008 4:03 PM
To: [log in to unmask]
Subject: When a company goes out of business

With the current business climate being in recession or decline, it got
me thinking about companies which go out of business and what happens to
their records.  To "go out of business" I guess could happen in a lot of
ways so that's one variant.  And depending on the type of business it
is, proprietorship,  partnership, corporation or some form of one of
those is another variant.  For coporations, public or private might be
another variant.  

 

Let's say a private corporation goes out of business and ceases to
operate.
What happens to their records and is there any formal guidance for this
or protection of business partners, customers, etc?  


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