Not waving but drowning
Article Abstract:
Insolvency practitioners report that Voluntary Arrangements (VAs) are saving an increasing number of UK companies from bankruptcy. VAs involve the appointment of an insolvency practitioner to rationalize the business, negotiate debt restructuring, and demonstrate the potential for better performance. Small businesses are particularly vulnerable to insolvency, and account for more than three-quarters of all insolvencies. Case studies of three small firms illustrate the problems and some VA solutions.
Publication Name: The Director
Subject: Business, international
ISSN: 0012-3242
Year: 1998
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Credit where it's due
Article Abstract:
Small firms must be aware if their creditors are continuously making late debt repayments. It may be advisable to ensure deliveries of goods or services are halted until all payments are made good. A thorough credit check of all potential debtors is an essential part of credit control management, reducing the possible risk to a firm's own financial standing within the business community. Businesses must address the issue of insurance cover to prevent financial loss should a debtor's firm fail.
Publication Name: The Director
Subject: Business, international
ISSN: 0012-3242
Year: 1999
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The rescue squad: With murmurs of an economic downturn around the corner, companies need to keep a vigilant eye on their cashflow. But financial distress need not spell the end for your company
Article Abstract:
Many business insolvencies can be prevented with early intervention, but some managers turn a blind eye to the warning signs. Financiers and trade creditors may be willing to help, and advisers, such as lawyers and accountants have an important role to play. Methods of rescue may include negotiating to reschedule payments or reschedule debt and allow additional facilities.
Publication Name: The Director
Subject: Business, international
ISSN: 0012-3242
Year: 1998
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Comment about this article or add new information about this topic:
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