well Bolton's was pretty manageable because it was all owed to the owner

it was only when he stopped funding the continuing losses the problems came about. You can't keep spending more than you get in unless someone is prepared to fund you.
Once you start spending more than you can afford where does it stop? It's not about the debt per se, it's about making losses. Because if you keep doing that you eventually can't fund the debt.
It's easy to borrow money and say on our current income we can pay the interest, but then the parachute payments stop after two years and your income plummets and you can't. Without slashing loads of costs elsewhere. That's what happened to us last time.

Posted By: mr carra, May 12, 13:27:34