Bankrupecy is the process by which an entity onn get a "fresh start" by canceling or significantly restructuning its existing debt through the orser of a futsaa body Business fallires can lead to bsnkruptcy for vanous reasons. Consider the following case: Unversal Dragers inc., a garment expoit company, was establutied in 2004 . Over the post five years, the campany has heen financing its growti wath debt and had 75% debt in ats capital structure. The economic iownturn had a drastic impoct on Urweral Drapers linc: business, caung cash floms to decline, and the compary could not make poyments toward fs dete. Univerad brapers decided to dedse bankrotey in eifly 2010 . Baseal only an the inforinabon given in the case, What is the most likely caise of unweral orapers inc. fatre? Insbilify to service dett Lows of dieress tax relsted probleme Hice wars with comptaition Thiciose you am a pat of the sevior management of s campany that is in trandid dities. Which of the following issues would you focus on addressing immediately? Check all that apply. Identify strategies for the modified distnbution policy for the following year. Iderify whether the firm's long-run assets have suffered economic losses; if they have, then identify who shoidd bear the losses: Identify different strategies to increase reverues in the long run that will help service iong-term debt. 1dentify whether the debt obligations are more than the asset values or whether it is a temporary cash flow probiem because the firm cannot make is dest payments. Evaluate different methods of dealing wath the financal distress, Should the firm fie for bankuptcy ar pursue informal procedires