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[TD="class: cke_contents"]What irks me is that these people make alot of money from their hard working staff.
Lots of items are bought into their company over time - on account.
Then suddenly the market turns and they use the downturn to shut up shop.
Lots of people get made redundant.
Lots of assets acquired on account, never get paid for - hurting lots of smaller businesses.
Important assets get removed from the business in advance.
The limited company protects the owners, so they dont get financially hit.
Unscrupulous accountants get hired, well versed in insolvency law.
The company ceases to operate, the books dont look too good, no interested parties come forward to buy the remaining assets.
Then suddenly the owner purchases all the remaining assets at a heavy discount.
The business renames itself with the same name or similar.
The owner returns providing lots of contrite, lame excuses about why the company folded.
Carrots are then dangled in the local press about potential future employment opportunites for the local economy, giving the impression the owner is some sort of benevolent benefactor.
If anyone has any sense they'll avoid operations like this like the plague..[/TD]
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