FD claims an ‘undisputed’ debt in the mid sixes, but the oher missing revenue is described as ‘delayed’ payments. No indication as to why they were delayed (perhaps delayed product deliveries?), but neither are they described as past due debts. Future cashflow, at best.
We also haven’t the foggiest notion of what collection efforts have been made, let alone whether they were swift and/or decisive.
On the other hand, we have the insolvency expert opining that the company should be a going concern, and that short term, bridge financing should be able to keep the company in business until their debts are collected, delayed payments are finally made, and finances are stabilized.
Sorta like what happened to Vans.
And sorta like the way bankruptcy laws are supposed to work.