Every year for the last several years the Christmas period has seen a joyous time for many soured by the collapse of a major builder or two.
Its a tale of woe that many of us in the insolvency space hear every year.
Will this Christmas be any different?
- Is one of your major contractors asking for an extension for a large payment coming due?
- Do you have debtors about to tick over into 90 days?
- Even worse, do you have creditors about to roll in 120 days?
- Are you contemplating injecting some of your own money in to get the business through the holiday period?
- Are you clinging to the hope of bumper Christmas sales?
- Worried where you will find the $ to pay staff for holidays?
I could go on listing danger signals but it gets a bit morbid.
At this time of year its easy to be confused, but these are definitely warning bells, nothing jingly about them.
Intervene early or point your client in the direction of a qualified adviser. Now is the time to act.
Subcontractor Charges/BCIPA/Stand-still agreements/PPSA/personal guarantees/Loan Agreements- tare amongst the tools that can be employed to ease the strain.
We are operating across Xmas/New Year.
You can call me directly 0431 128201.