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  1. Post
    #26
    As someone who buys a lot of used goods, with plenty coming from liquidations I've formed a good few business relationships when it comes to people involved in the process.

    What I have learned, is that the only people who benefit in a liquidation are the people facilitating it, and the buyers. Everyone else is basically ****ed to the point where it's not even worth liquidating.

    It would work out better for everyone (except those two groups but no one should care about them, and I fall into one of them) if, instead of liquidating, a business was forced to end operations and the owner had to sell all assets manually themselves. Would also give them something to do in the process, but sadly that would be incredibly difficult to legislate or administer.

    It's a pretty sad environment but unfortunately there's no real other way. If a company is losing money, not liquidating usually means dragging people even further into the pit.

    Maybe some sort of secondhand business system where companies in the same industry can buy them out at X proportion of the debt cost and everyone just agrees to write off the rest. They would actually get more money back that way, and the business continues to operate under another like company probably making money.

    But otherwise it's usually small businesses, worth like 70k, with 40k in debt (20k being secured), the assets sell for 20k, the liquidators take 15k and secured creditors get 5k.

  2. Post
    #27
    Maybe some sort of secondhand business system where companies in the same industry can buy them out at X proportion of the debt cost and everyone just agrees to write off the rest. They would actually get more money back that way, and the business continues to operate under another like company probably making money.
    Too bad real life doesn't work like Offworld Trading Company

    (eliminate enemy player by buying them out for twice their stock price, regardless of whether they want to sell or not, making them become a subsidiary)

  3. Post
    #28
    teelo7 wrote:
    Too bad real life doesn't work like Offworld Trading Company

    (eliminate enemy player by buying them out for twice their stock price, regardless of whether they want to sell or not, making them become a subsidiary)
    I was thinking buying them out at half their asset value. Presumably fledgling pizza chain (Gradi/Pizza Club) would see a good deal in buying an ailing sole company that's ready to start trading under their brand at half price. Hence the creditors agreeing to get half of what they are owed, rather than 25% (or less) forcing a liquidation.

    Or even places like Dominos when they see a location they're not yet covering.

    Opportunity for other small, profitable companies to expand without outlaying a full company worth of investment. 500k companies buying 70k companies for 35k.

    Otherwise all I see is another person coming along who always wanted to run a pizza company buying up all the equipment at a fraction of the cost, then a couple years later, seeing the same equipment up for sale in a liquidation of their pizza shop because they didn't have the business acumen to profit.

  4. Post
    #29
    Zarkov wrote:
    It's bs though, isn't it.

    You pay your rent a month in advance, and work for your boss a month in advance.

    Guess who's idea that was.

    Probably the Sheriff of Nottingham's.
    I get two weeks in arrears and two in advance.

  5. Post
    #30
    Sit down and work out what your outgoings are, see if you can save money in that area, are you on the best power plan? best deal for internet/mobile? are you paying a higher interest rate on your mortgage than you can currently get (ask your bank or broker how much the break fee is, it might not be much and you might be able to save on interest and your repayment amounts).

    Then start trying to save for a rainy day fund, at least a months salary as savings, but a couple of months would be ideal so you don't get caught short like this again.

    Refresh your CV and put the word out, ring some recruiters, what sort of industry are you in?

  6. Post
    #31
    GaR wrote:
    I get two weeks in arrears and two in advance.
    +1