Tuesday Sept 23 2014
RSH is seeking an extension of payment terms with a large supplier. A bankruptcy lawyer comments this is the same thing that happened at Circuit City and Borders,and as he says, we know how that turned out.
I commented in Acct 3310 yesterday that the cash flow statement was the most important of all. Here is that lesson, up close and personal as Jim McKay would say.
The latest CFO resigned after seven months on the job.
As the article suggests, an extension of time to pay is hardly an increase in sales. With continued losses, an increase in business is needed. But with all this bad publicity who is shopping at RSH?
Professor Elam 
Leave a comment