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Examples
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The deadline for so-called going-concern bids that would keep the company operating was May 6, four of the people said.
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The deadline for so-called going-concern bids that would keep the company operating was May 6, four of the people said.
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Borders announced the decision on Monday, saying it was not able to reach a deal for a going-concern sale to salvage its 400 remaining stores and 11,000 jobs.
Borders Bookstore Will Eliminate 11,000 Jobs, Close 400 Remaining Stores 2011
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The fundraising will be important if the company's accounts are to be prepared on a "going-concern" basis in future, the auditors, Deloitte Haskins & Sells and Chaturvedi & Shah, said in their limited review report of Jet's quarterly financial results.
Jet Airways Auditors Ask Company to Raise Funds Ashutosh Joshi 2011
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According to the going-concern clause in the club's audited accounts, Moss and Roberts pledged to meet its cashflow needs for "at least 12 months" from last August.
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The liquidation meant that Mr. Edwards and other executives would not receive payments from an $8.3 million bonus pool established to reward leaders and other managers in the event of a successful reorganization or a going-concern sale.
Borders' Severance to Executives Approved Eric Morath 2011
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It said the going-concern opinion stems from global economic conditions, higher yarn and fabric prices and the possibility that the company could be prevented from borrowing under its revolving credit agreements.
American Apparel Posts Loss Melodie Warner 2011
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"Borders remains focused on working with interested parties to develop a going-concern transaction," said Mike Edwards , Borders Group's president, in a statement.
Borders' Fate Hangs in Balance Mike Spector 2011
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"Our intention is to continue trading while we attempt to find a going-concern buyer which will safeguard the future of the business," said Dounis, who added that all its servers were still running so gamers could play APB.
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That filing, a 10-Q, was made a week after the initial Forbes story and listed zero cash, zero revenue, a negative net worth and a going-concern warning.
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