Bust companies revived in ‘phoenix’ deals more likely to fail again, study finds
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What the 2 sources said
“Bust companies revived in ‘phoenix’ deals more likely to fail again, study finds”
Exclusive: research for the Guardian shows ‘pre-pack’ deals with former management also pay far less to creditors The boss whose twice-bust business appears to be back Insolvent businesses reacquired by their previous management in “pre-pack” administrations are much more likely to fail again and tend to repay far less to creditors, research for the Guardian suggests. The study is the latest to raise questions about the practice of “ phoenixism ” – accounting’s controversial art of liquidating…
Read at The Guardian – World“Bust companies revived in ‘phoenix’ deals more likely to fail again, study finds”
Exclusive: research for the Guardian shows ‘pre-pack’ deals with former management also pay far less to creditors The boss whose twice-bust business appears to be back Insolvent businesses reacquired by their previous management in “pre-pack” administrations are much more likely to fail again and tend to repay far less to creditors, research for the Guardian suggests. The study is the latest to raise questions about the practice of “ phoenixism ” – accounting’s controversial art of liquidating…
Read at The Guardian – UKWhat the reports add
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