Every business has its good days and its bad days. A distressed company usually shows signs of trouble which are reoccurring and not industry specific. If you recognize the warning signs below in your business or one that you know, acting promptly to identify and implement the right solution can help get the company back on the road to recovery.
4. Extravagant lifestyles of owner/principals that appears beyond their means
5. Delay in implementing approved projects without sufficient explanation
6. It is worth investigating that a change in outside auditor is not due to management’s resistance to the audit firm’s decision to disclose concerns or doubt about the company’s ability to continue as a going concern.
7. Unusual shift away from the company’s traditional strategy
8. Significant new competitor(s) in their market
9. Adverse legal action
10. Inability or unwillingness to comply with government regulation
Early recognition of these warning signs and acting promptly can often help save a business. If your business or one that you serve is in need of guidance or assessment of any of the aforementioned areas, please call us at 404-874-6244 or fill out the form below.
This article was written by D. Alan Najjar.
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