Signs of Insolvency
Would you recognise the warning signs of insolvency?
Here are some of the key ‘red flags’.
- Unable to pay wages or bills
- Cant pay tax debt
- Poor cash flow
- No working capital
- Receipt of a DPN
- Ongoing losses
- No business plan
- Problems obtaining finance or credit
- Liabilities greater than assets
- Supplier cash on delivery only terms
- Inability to raise funds
- Loss of key personnel
- Director disputes or resignations
If you are at risk of insolvency, it’s vital to reach out to a professional asap to investigate possible solutions.
Insolvency Australia has all of Australia’s Registered Liquidators and Bankruptcy Trustees on one platform, enabling you to search for, compare and connect with the one that suits your needs.
Please do reach out now for the expert advice that could make a difference.