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Headline

Cobbetts' path to administration

Comment

£45M turnover, £323,000 PEP, results "on track" and hiring lawyers a few weeks ago. An interesting example of how a firm that looks fine can still run out of money. This should be a warning for other firms. Financial management is not just reporting last months billing - it is looking forward, understanding future cash flows, securing funding. It requires focusing on profitability, dealing with underperformance. Finance is an actual skill - especially in these times. Because before you know it the firm is out of money - and then it is game over. Sad for those involved and I wish everyone the best !

Posted date

30-Jan-2013

Posted time

10:33 pm

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