Case study - Maya Lim
- Created by: Bethany
- Created on: 24-02-13 11:01
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- Case study - Maya Lim
- Financial problems
- Overdrawn £7,854
- Overdraft limit of £8,000 agreed with bank
- Overdue trade credit £10,450
- Christmas sales low
- Net profit only £4,672
- Overdrawn £7,854
- Contingency planning
- What is it?
- No plan b
- Would it have really helped?
- Aftermath
- All stock damaged - unsalable
- Some business records completely destroyed
- Insurance payout take months to come
- Would only cover fixtures, fittings and stock
- Would have to find new premises
- Need new stock - no cash to buy it
- No insurance for loss of earnings
- No increase on bank overdraft
- No suppliers to offer trade credit
- Financial problems
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