March 25, 2020
California Apparel New interviewed Retail Co-Leader Ronald Friedman about steps businesses can take to remain viable through the coronavirus crisis.
California Apparel News
By Andrew Asch
Excerpt:
“Write letters to vendors informing them that you’re not open for business. You’re holding off on paying our accounts payable for now. Your receivables may not be collected as timely as you like,” he said. He recommended that businesses pay bills to keep the lights on, such as those from utilities and communications companies. Keeping liquidity is crucial.
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