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What are the causes of financial problems in companies?

Although every company is unique, there are a number of factors that can lead them to major or temporary financial problems. None of these causes is inherently bad. They all have their reasons and can be resolved with an effective strategy.

Remember that debt solutions do exist. With your help, our Licensed Insolvency Trustees (LIT) will analyse your business’ situation. They’ll talk you through the various solutions available and tell you about each one’s benefits.

The many causes of financial difficulties

 

Here are some common causes that lead to financial problems for companies of all sizes. To prevent major issues and financial losses, corrective action is recommended when the problems first appear.

If your company continues to experience financial difficulties, our professionals can help you rectify the situation.

Increase in competition

Reduction of clientele

Loss of a major client or contract

Succession problems

Increase in operation costs

Major industry changes

Disputes among partners

Departure of employees occupying key positions

Scarcity of labour

Major Force (loss, disaster, etc.)

Various accidents

Technology problems (equipment modernization is too expensive)

Misguided business decisions

The importance of acting to recover profitability

Once you have detected financial problems within your company, it is essential to act soon. The quicker you intervene, the more accessible and effective the solutions to correct debt problems will be. With a strong strategy in hand, your company will be able to return to the path of profitability.

Here is how we can help you if your company is experiencing financial problems.

Prevent commercial bankruptcy

Guide and accompany you towards solutions to debt problems

Improve company profitability

Ginsberg Gingras, a reliable partner for companies

 

Advenant le cas où une entreprise ne déposerait pas une proposition concordataire à l’intérieur des délais prévus à l’avis d’intention, celle-ci serait réputée avoir fait faillite. Un syndic autorisé en insolvabilité serait alors nommé pour administrer la faillite en question. Cependant, ce genre de situation se produit très rarement.

Règle générale, cela se produit lorsque aucun des scénarios de proposition envisagés n’était viable pour la compagnie ou bien que les administrateurs de celle-ci ont choisi de mettre fin aux activités de l’entreprise.

Comment fonctionne une proposition concordataire?

  1. Ginsberg Gingras professionals are known for their experience and their advisory role for companies of all sizes.
  2. Over the years, we have built a solid reputation in business thanks to our thorough knowledge of solutions relating to commercial debt.
  1. Regardless of the magnitude of debt, we are prepared to carry out the precise diagnostics necessary to resolve the financial problems of a company. Our knowledge of insolvency greatly contributes to finding the solution most appropriate to your specific difficulties.
  2. Our role is to support you in the steps that will end indebtedness while respecting the rights of creditors.

Diagnosing your company

 

Let our trustees and administrators recommend the best solution to resolve your company’s debts.

Fill out the appointment form to schedule a quick and private consultation..

Contact one of our advisors if you are considering a company restructuring.

At any time, they are available to answer your questions and help you make the right decision.

Fill out our quick financial analysis form or the appointment form that follows for a consultation.

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