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IPA R3

Martin Buttriss Insolvency
Practitioner

Carolynn

Richard Simms Insolvency
Practitioner

Richard

Carolynn Best Insolvency
Practitioner

Carolynn

Other Warning Signs

Pressure Explanation
Dealing with an employee tribunal These do not necessarily occur because of insolvency but they can cause a company to become insolvent if there is a large pay out.

By not setting up proper employee contracts, employee tribunals can be an un-welcome occurrence sometime in the future.

 

Reliance on one key customer Having one main customer is not a bad pressure but it does mean that without them you may not have a viable company.

What would you do if they stopped purchasing your product/service? How would you continue to trade without their business?

 

If you want to remain with the one customer it may be an idea to keep an eye on their business to make sure that they will still need you for future orders.

 

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