My partner was informed last week that her publicly traded company is shutting down, and from my current understanding there was no buy out/merger or bankruptcy filing. Shareholders didn’t vote on it and it is not a single majority owned company (over half company owned by individuals or public companies). I’d like to know the scenarios in which this could happen.
In: Economics
If the management of a company discovers that the company is no longer a going concern and are not going to be able to pay bills they have to shut down, in many locations it would be illegal to continue trading knowing they wouldn’t be able to pay all their bills.
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