Restructuring & Insolvency
Cryptocurrency – Cubits Exchange Insolvency
Cubits used PaySec to overcome the payment restrictions in place in China. PaySec was responsible for the cash settlement of BTC purchased by Cubits’ Chinese customers. The accounts of three Chinese customers were allegedly hacked.
Manufacturing – Failure of integration creating cash flow issues
Losses were encountered, sales were lower than anticipated coupled with greater than forecast direct costs due to delays encountered in integrating the businesses and achieving the growth needed.
Construction – Cash flow challenges
Due to greater than expected groundwork costs the developer had run out of working capital. The units were structurally complete but required internal finishing. The primary lender was faced with little option than enforcement action.
March 3, 2021
Following its latest office openings in Bristol, Leeds, Newcastle upon Tyne and Nottingham, the Opus Business Advisory Group has extended its network in the South […]
February 24, 2021
As the government rolls out its mass vaccination programme as a last resort solution to the Covid crisis, there may finally be hope of some […]
February 11, 2021
As we approach the first anniversary of the start of the Coronavirus crisis, few businesses have been left unmarked by the most extraordinary twelve months […]
January 26, 2021
What happens to business value? As a business owner you may be contemplating your future at a time when seismic changes are occurring within the […]