Stationery retailer CNA - that has been around for 125 years - has been placed in business rescue, its management team confirmed on Tuesday. Business rescue means that a company gets breathing space from debt and other repayments, while business rescue practitioners take full management control. They then decide whether the business can be restructured to survive. Failing that, they would aim to achieve a better return for the company's creditors and shareholders than an immediate liquidation of the company would.
from Engineering News | Home https://ift.tt/3itPZec
