Advice on situation

John:

I'd like your advice on my situation:

My wife inherited an import business from her father 6 months ago. We hired
someone who was unemployed to help run it and now he no longer desires to
continue. (He prefers a 9-5 job than being an entrepenuer)

The business imports restaurant goods from Asia, warehouses them and sells &
distributes them throughout CA. Small player in a field of three domninant
players. We do have an established customer and supplier list. At its prime,
the business grossed over $360k a year (net $60k), but my father in law was
stricken with cancer a couple years ago and now the business gross around $8k a
month (down to 5 major customers from 20).

Our original thought was to try to build the business back and then some, while
we both continued our own professions. My wife and I are not sure what to do
with this business at this point.

1) liquidate the inventory?
2) sell the business outright?
3) hire someone else to run it?

What are your thoughts in this situation?

Thanks,

Kevin

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