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Insolvency Indicators
Most business experience one or more of these problems at some point in time - but if your company is experiencing a number of these insolvency indicators on a sustained basis, it may be insolvent.
- Suppliers placing the company on COD or demanding payment before resuming supply
- Ongoing unsustainable losses
- Poor cash flow
- Exceeding overdraft limits and unable to obtain further credit
- Stop supply from suppliers
- Creditor demands and threatened legal action
- Creditors unpaid and outside of usual terms
- Increasing debt - (liabilities greater than assets - Liquidity ratio below 1)
- Unrecoverable loans to associated parties
- ATO demands from overdue taxes
- Asset sales to fund trading
- Falling Stock levels
- High staff turnover
- Incomplete Financial Records
- Postponement of essential maintenance
- No access to alternate finance or ability to raise equity
- Issuing Post dated cheques and dishonoured cheques
I think my business may be insolvent - what next?
If you are worried about business insolvency and are not sure what action you need to take or what to do next, contact us at Liquidation Direct. We understand the stress and worry that insolvency can cause and have business insolvency experts available for you to talk to 24hours a day, 7 days a week. Let us help you act now, before it�s too late.
Liquidation Experts, Liquidation and Bankruptcy Specialists, Liquidators Registered with ASIC, Bankruptcy Trustees Registered with ITSA, Insolvency and Liquidation Advice, All forms of corporate and personal insolvency, Liquidation throughout Australia, Part IX Debt Agreements, Part X Personal Insolvency Agreement, Bankruptcy Experts.