The Video Transcription:
I want to leave you with the famous quote in business troubles. The most famous liquidator in UK history was a guy called Sir Kenneth Cork. He wrote the Cork report on which the comprehensive 1986 UK insolvency legislation was based. He was once asked what’s the first sign of a company about to go into liquidation. He answered as follows: “The first sign of a company about to go into liquidation is when you pick up a copy of their annual report and there’s a picture of the chairman getting out of a helicopter at a brand new headquarters.” That’s the first sign of a company about to go into liquidation.
Therefore, the moral of the story is: “Be flash with your deposit account book and not your BMW”.
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