by Caroline Benham for Management Today
La Senza is once again hanging by a bra strap after it reported this week that, for the second time in under three years, it was entering administration.
Ultimately, cashflow problems can affect the best of us even if the business as a whole seems to be doing well. But spotting when financial issues are more serious than a temporary cashflow glitch is vital for directors, who could face personal financial liability or even disqualification for decisions they make when their business enters the Twilight zone – the period before administration when you realise you can’t pay your debts when they’re due.
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