When the Worst Happens in your Business – Managing the Real Estate for a Closure

Karen Klein, of BusinessWeek, recently responded to a letter in her Smart Answers column asking for advice on how to close a division of a business.  Knowing that real estate holdings (owned or leased) often must be disposed as part of a closure, I scanned the column for the advice that Klein provided to her faithful reader.  I was not disappointed, nor was I impressed.  Since I appreciate that Klein is not a real estate professional, I applaud her for including a short paragraph in the Tie Up Loose Ends section; however, the advice that she and her forensic accountant interviewee provide stops a bit short.  What follows is my elaboration of their advice.
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