Andy Gilder wrote:The problem with having an ethical business policy is that pretty soon you'll be queueing up to take advantage of a pre-pack yourself.
Suppliers simply can't afford to be picky who they supply, because if they are someone else will come along and take that business away from them.
The prepack completely screws up the market - especially selling rates, difficult to compete with a business devoid of debt with P&M they have got for a pittance!!
On a positive the majority fail in the first place because of inept management - it is the very same management who are running the new entity - not a shock a lot are failing a second/third time - you cannot polish a turd
