I think you should try to hire someone who can think how to survive the company. A lawyer that will help you to decide if you really have to close the company or there is still time to recover everything. Building your own company is quite difficult. Papers that you need to accomplish before passing it to the specific offices are not so easy to accomplish. It takes time for you to have your company name then registering it to Bureau of internal revenue for the TIn number. Maybe it's worth it to try first to talk to someone who has experience doing their own company and maintaining it. Try to search also for some tips on the net and consult a lawyer. Think few times before closing the company.
I will have to do everything to save the company before it gets worse. I will have to cross-cut on budgets for certain areas - staff, miscellaneous items and some others. Of course, I would have my employees be informed about the real situation of my company and try to ask opinions from them about what they think and where do they stand in the company. But, if worse gets worst, I have no choice but to file a statement of bankruptcy. Of course, that's going to be the last thing that I will have to do.
Well since I am a Christian person who believes in the Power of Prayer I would be Praying and believing god that no matter what happens I would be offered a job somewhere else and even be lucky enough to somehow get severence pay or something due to having to be let go because of this.