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Entering the twilight zone: how to deal with impending insolvency

by Caroline Benham for Management Today

07-07-2014

MT EXPERT: Insolvency is a terrifying prospect for any business owner – but if you enter it gracefully, there’s a good chance you’ll come out the other side.

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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