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25 - 1
Copyright © 2002 Harcourt Inc.All rights reserved.
Financial distressprocess
Federal bankruptcy law
Reorganization
Liquidation
CHAPTER 25
Bankruptcy, Reorganization,and Liquidation
 
25 - 2
Copyright © 2002 Harcourt Inc.All rights reserved.
Economic factors
industry weakness
poor location/product
Financial factors
too much debt
insufficient capital
Most failures occur because anumber of factors combine to makethe business unsustainable.What are the major causesof business failure?
 
25 - 3
Copyright © 2002 Harcourt Inc.All rights reserved.
A large number of businesses faileach year, but the number in anyone year has never been a largepercentage of the total businesspopulation.
The failure rate of businesses hastended to fluctuate with the state of the economy.Do business failures occur evenlyover time?
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