A business leases may not be a true lease but rather recharacterized as a secured purchase, giving you significant power over the creditor.
With business leases you have the same options in bankruptcy as with consumer leases: to “assume” or “reject” the lease.
To determine whether a “lease” is actually a disguised secured purchase the bankruptcy court looks at the deal’s economic substance.
A “lease” of furniture or other consumer goods may actually be a disguised purchase. If so, through “cramdown” you can pay much less on it.
Leases of consumer goods–furniture, appliances, electronics–are like vehicle leases: you can “accept” or “reject” them.
Chapter 7 bankruptcy gives you serious advantages for getting out of a residential lease–advantages in money, time, and peace of mind.