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Corporate bankruptcy takes place when an organisation can't meet its financial obligations, which goes on causing a legal approach to resolve debts, hence the primary means has to do poor financial management, and also, declining revenues, and through the external bodies like the economic industry disruptions has effect on the financial strain.
By preventing bankruptcy which has to do with strong financial planning, involves maintaining manageable debt levels, which look into diversifying revenue streams, over the cash flow, so firms should also adopt risk management strategies which go on anticipating external challenges and with the early intervention over restructuring debt, helps a lot over avoiding a full-blown crisis.
Am @kingworld-line
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