Who Gets Paid After Liquidation?

Customer bankruptcies are inevitable. In 2012 alone, there were over 40,000 business bankruptcies filed with the United States Bankruptcy Courts. But with a little preparation, credit managers can prevent a bankruptcy from becoming a major disruption to cash flow. Managing risk is a balancing act, but no matter how good you are at it, there will always be instances where the scale tips and the customer must liquidate its assets to settle its debts. A good credit manager knows how to prepare for…