​Has anyone had to file bankruptcy because of employee theft?

Long story short, one of our employees stole and embezzled roughly $250,000 from our business over a six-month period. He’s now facing felony charges, but we’re the ones left trying to pick up the pieces.
The financial hit put us so far behind that we’re seriously considering bankruptcy. It’s something I never thought I’d even have to think about, but the stress has become overwhelming.
For anyone who’s been through it, was bankruptcy as bad as you expected? Did it actually give you a chance to rebuild, or did it create even more problems?
I’m just looking for honest experiences from people who’ve been there. Right now it feels like everything we’ve worked for is slipping away, and I’m trying to figure out if bankruptcy is the end or just a new beginning.

submitted by /u/More_Comfortable_614
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