B1 – Intermediate
One objective companies’ have is to make loads of profit. However, they sometimes also face problems with money. When they go bankrupt, it can be a big problem for the company and their workers too.
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Discussion Questions:
- What usually cause companies to go under?
- What happens when a company goes bankrupt?
- How can companies stay profitable?
- In your country, what kind of help does the government give to companies that are about to go bankrupt?
- Do you know any companies that went bankrupt? Talk about what happened.
6 replies on “Company Bankrupt”
1. The reason a company goes bankrupt may be poor management. Someone in the company uses or manages money poorly.
2. It means that no money for pay the bills or workers
3. Some examples are: Create a strategic plan, make better decisions, use correctly the money, have new investors, innovation.
4. Depend of the situation of the company and the cause of bankruptcy.
5. A Bank: for example Bankia. A clothing store called “ Blanco”. Also, a lot fo companies were affected by Covid.
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Discussion Questions:
1. What usually cause companies to go under?
There are a lot of factors than can cause companies go under, for example lack of planification, management of providers, insurance policy, problems with the customer services, fake news about your company, difficulties to adapt to an environment that change a lot, even bad luck…
2. What happens when a company goes bankrupt?
It’s a difficult situation first at all with the employees and their families because they will became unemployed almost without money also with the stockholders cause they serves will became unworthy and also with the customers because the company maybe can’t support longer the product services.
3. How can companies stay profitable?
It’s a very difficult question to answer in a world in a constant evolution… But I suppose that planification, resilience, good customer service, good finance management can help the companies to be profitable.
4. In your country, what kind of help does the government give to companies that are about to go bankrupt?
I don’t know the legislation about this, but for sure Government have some procedures to minimize the impact in the employees and the stockholders, and also some helps to the company in order to try to save it.
5. Do you know any companies that went bankrupt? Talk about what happened.
Yes in the Bank Sector we have had some experience of bankruptcy, for example the Popular Bank in Spain had an important crisis because the lend a lot of money to the real estate sector and after the mortgages crash had a lot of losses… Finally Santander Bank took over Popular Bank saving jobs for its employees and saves for its customers.
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1. I think the main cause of bankruptcy is mismanagement
2. I think it depends on the country, but in Spain it is possible that the debts they have to pay will be paused and the commissions on bank loans will be eliminated
3. It depends a lot on the company but generating forest fires is not one of them
4. In 2008 the state had to help the banks they inject money so they would not go bankrupt and people would lose their savings.
5.The last company I worked for because of covid went bankrupt and they had to lay off 30% of the employees
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