Answer multiple choice question according to Canadian Law.

5. Custom Cottage Construction Company has been in business for 50 years. Because of an economic downturn, people were not buying custom cottages. Within 2 years, Custom Cottage Construction had debts of $7 million. But there was hope, because economists were predicting that the economic downturn would be over in the next 3 months and as such, custom cottages would be in demand again within a year. Custom Cottage Construction Company's creditors are seeking repayment. What is the best course of action for Custom Cottage Construction Company?

a. Seek protection under the Companies' Creditors Arrangement Act

b. File for bankruptcy

c. Ride it out for a year until the market rebounds

d. Close their business