Navigating a business through rough waters is undeniably challenging. Whether it's a cash flow crisis, mounting bills, or the dread of not meeting payroll, these situations can be dire. But countless businesses have managed to pivot from the brink of collapse to stability. To achieve this, you'll be faced with hard choices and must act promptly and decisively.

1. Guarantee Positive Variable Contribution: 

Ascertain that the revenue from each product or service surpasses the cost of producing an additional unit. This should be assessed for every product or service and, if prices vary amongst customers, at each customer level. Upon identifying negative variable contributions, either enhance the price, trim down the incremental cost, or discontinue the product or service. In most scenarios, each sale should help cover overhead expenses. 

2. Trim Expenditures: 

Averting business closure might entail curbing costs. Begin by slashing all non-essential expenses – company events, for instance. Delve into nonpersonnel expenses next. Can you negotiate lower travel expenses, utility bills, or rent? Occasionally, cost-cutting might entail tough decisions regarding personnel, like layoffs or salary cuts. These measures are harsh but sometimes necessary to prevent a complete shutdown. 

3. Strategize Bill Payments: 

With limited cash and mounting debts, it's crucial to strategize your payments. Start by settling dues that, if left unpaid, would halt business operations. Typically, salaries top this list, as unpaid employees might leave, crippling your operations. Vendors supplying essential materials should also be prioritized. 

4. Meticulously Map Out Cash Flow: 

Having prioritized payments, evaluate available cash and anticipated receivables. Formulate a precise cash flow projection, detailing the amount, recipient, and date of every payment. 

5. Engage with Creditors: 

Avoiding creditors when faced with unpayable debts is a common yet detrimental approach. It's advisable to proactively communicate, detailing your circumstances and repayment plans. Most are receptive if they're convinced of eventual payment.

If there's potential for a breach of banking agreements, like missed payments or other covenant violations, it's paramount to notify your bank. Banks prioritize repayment. They're more inclined to renegotiate if presented with a robust plan for financial betterment and loan settlement.

Remember, the road to recovery requires resilience, a clear strategy, and consistent communication with all stakeholders.