, behind the scenes, the business never recovered from her retirement. Things became quite dire at the end, according to the creditors’ report, obtained by the. “The company was both loss-making and under creditor pressure.
In the absence of new funding or a solvent sale, the company was insolvent on a balance sheet and cash flow basis. The existing investors of the company had injected ad hoc funds to meet critical payments and no further funds were available from this source.”
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