Insolvency: Turnaround and informal arrangements

If, after analysing the business the conclusion is that it is worth saving then a strategic plan of action should be created to address specific areas of weakness such as:

  • Cost reduction
  • Capital restructuring
  • Concentration on profitable products
  • Disposal of part of the business
  • Improvement of financial controls

On the basis of the strategic plan informal arrangements can be made with creditors to pay off the debt.

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