There is rarely any reason to bankrupt a business, if the goal is to liquidate assets and pay any separate business debt. The reason is because the result is that if there is any remaining business debt after the business is liquidated, the creditors cannot reach the owner personally, because of the separate entity status.
If the business owner accepted/guaranteed personal liability for business debts, then a business bankruptcy will accomplish nothing, because the creditors will simply move to the owner as the target for recovery.
Either way, a business bankruptcy is a waste of money, if the goal is liquidation.
Instead, you can do this:
1. Subtract the business liabilities from assets and if there is any money left, then pay the liabilities off distribute the remaining cash to the shareholders, and just stop operating the business.
2. If there is a negative balance, then pay any debts contributing to that balance if the debt is personally guaranteed. Any non-personally guaranteed business debt can be ignored.
3. If the personally guaranteed debt is large, then your husband (and perhaps you) may have to consider personal bankruptcy
to resolve the issue.
Hope this helps.