A small business owner has opened up about the difficulties of managing cashflow in a growing business, after his personal training company Rapid Personal Training entered liquidation yesterday.
Insolvency firm Hogan and Sprowles has been appointed to manage the liquidation of Rapid PT, which employs three full-time staff and 17 contractors, and has seven locations spread across Sydney and Perth. The business has ceased trading.
Rapid PT was established in 2012 by founder Kris Cochrane, who told SmartCompany about the difficulties the business faced when it came to managing growth plans.
We had big plans and big growth. We expanded into Western Australia and invested into strategies that were, honestly, a gamble, Cochran…
Read the full article at: http://www.smartcompany.com.au/finance/sme-owner-opens-up-after-personal-training-business-enters-liquidation-for-the-first-time-ever-i-raised-the-white-flag/
