Signs that may indicate your company is in financial difficulty: On-going losses Poor cash flow Absence of a business plan Incomplete financial records or disorganised internal accounting procedures Lack of cash-flow forecasts and other budgets Increasing debt (liabilities greater than assets) Problems selling stock or collecting debts Unrecoverable loans to associated parties Creditors unpaid outside usual terms Solicitors’ letters, demands, summonses, judgements or warrants issued against your company
Read More
