How do I deal with a union’s demands that will bankrupt us?

A union was recently started at the business and they are now making some very expensive requests. They are refusing to negotiate.

The business is currently not profiting and my partners and I are not taking salaries. Trying to fulfill these requests will bankrupt us and the business.

What is a business supposed to do with employees who have practically been brainwashed into thinking that we are billionaires with tons of money hidden away?

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