Options
After a review of the business has been undertaken it should be known whether:
There is a reasonable/good possibility of rescuing the business and returning it to profitability and solvency; or
The business needs to be closed as there is little or no prospect of rescue.
Making this assessment is difficult as there are so many dynamics and stakeholders within a business. Many business owners take the 'ostrich' approach and in the long term this may result in a more painful and costly experience for all concerned.
