KSV advisory featured in Chartered Professional Accountants Canada article "Be on the alert for signs your business might be in trouble"
"CPA David Sieradzki, CIRP and managing director at KSV Advisory Inc., agrees. “The COVID-19 crisis has shown us that many businesses didn’t save for a rainy day—they were basically living from one week to the next (or one payroll and rent payment to the next). Many of the businesses that have filed for bankruptcy or Companies' Creditors Arrangement Act (CCAA) protection in the past few months—such as some small and large retail chains—were already distressed long before the pandemic began. Others are still working with their lenders and advisers to consider restructuring options and determine if they can continue to operate as a going concern. So while May and June experienced a record number of CCAA filings (10 and 12, respectively), we unfortunately might not see the true impact of COVID until later in the year or in 2021.”