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Companies In Trouble What are some signs that a company is in trouble Poor quality late deliveries weak strategic planning low profits and the economy are a few reasons businesses may run into financial disarray What steps are taken to remedy the situation Produce products faster cheaper and with less labor involved Reorganize the company and develop a stronger strategic plan that will restructure and stabilize finances Or invest in the company and ride it out - take a wait and see approach Based on the economy there will be more companies filing bankruptcy This paper will define several steps that businesses can and will take when faced with financial disorder Plus answer the following What are some reasons behind the need to file for bankruptcy Common types of bankruptcy filed What does each category do for a company One major reason for a company to face the task of filing for bankruptcy is financial burden An example would be of a company that will be identified only as NSW In 1999 NSW acquired a smaller business that was known as a major supplier of widgets for the automobile industry This acquisition cost NSW well over 650 million The money was secured through borrowings under a senior secured bank loan facility and through a senior subordinated note issue It was a good move NSW had leverage on the automobile market They are the owners of 25 facilities in North America 20 manufacturing facilities in Europe and five manufacturing facilities in South America Asia and South Africa Currently the Company employs approximately 14000 full-time employees worldwide For approximately two years all went well there was money for everyone Bonuses benefits and profits flowed like wine That is until light vehicle and heavy-duty truck production decreased Tighter pocketbook measures were being put into place as a result of this more borrowings from bank lenders were made to cover expenses
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