Buisness in distress Help.

[Erik Misyuk]

Ok here is the situation a friend of mine owns a plumbing supply, it is in buisness for over 20 years, it had a very steady gross of 1.7m 30% profit. The buisness over the past year has fell to 1.1m, my friend is panicking their is 400k in loans, becasuse of the shortfall, cannot buy material an so it is short so it hurts buisness even more. WHat do you guys suggest to do can it be sold? or are their things that might be done>?