Every organization is seeking to increase cash flow and reduce risk from nonpayment. Collecting cash on a timely basis from customers can be challenging for many manufacturers, particularly if their customers are experiencing financial difficulty.
In a Parker Poe webinar, Ashley Edwards and Chip Ford provided practical guidance for detecting early signs of customers experiencing financial distress, both in and out of bankruptcy. They also discussed how legal professionals and other business leaders can deal with customers in those situations. Their presentation addressed:
- Warning signs of distress
- Risk mitigation strategies
- First steps in bankruptcy
- Bankruptcy next steps
You can view the slides from their presentation here. For more information, please contact Ashley and Chip.