An expert in company insolvency has told the Herald newspaper that companies must heed the early warning signs of financial difficulties and take appropriate action.
One potential path could be employing a secure virtual data room, which allows for the swift sale of assets in a user-friendly, online arena.
Director of the insolvency specialist, Begbies Traynor, George Dale, told the Herald: "We try to get an opportunity to sit in front of directors who are anticipating problems at an early stage.
"The more options we have going forward, the less [chance] any creditor action or HM Revenue and Customs is forced upon them."
Among the other benefits of utilising a virtual data room are the ability to exchange documents and accounts in an encrypted environment, including options on restricting printing, editing and saving.
Last week, the awarding winning Speyside Glenvilet Water Company was placed into administration after running into severe cashflow problems.
