Question:
My family business has been operating successfully for nearly 20 years. Over time I have also managed to get a few investors into the business.
The last year, however, has been tough and we are struggling to make ends meet. I feel it is decision time about the future of the business, but am wondering whether liquidation is the best route or must I rather look at business rescue?
What is the difference between these two options?
Answer:
In difficult economic times, many companies are having to come to terms with making tough financial decisions.
Filing for liquidation has in the past been a route considered by many companies.
The Companies Act 71 of 2008 (Companies Act) introduced another intervention mechanism, na…
Read the full article at: http://www.news24.com/SouthAfrica/Local/Express-News/choice-between-rescue-and-liquidation-yours-20170905
