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Strategies & Market Trends : Bankruptcy Predictor Model
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To: Paul Berliner who wrote (37)3/15/1999 10:47:00 PM
From: Q.   of 477
 
Syquest had a negative Z = -6.2, just 3 months before declaring bankruptcy. That was using the 10Q filed 8/98 and the stock price that day. They went BK in Nov. 98.

The main things that drove that ratio so far negative were retained earnings of -$315 M and EBIT of $-146 M, both hugely negative.

I'm sure this stock was in negative Z territory for many quarters before it went under. It lasted about 2 years longer than otherwise possible, thanks to toxic convertible financing.

This probably gives you an extreme example of how bad a co. can get before they finally go bankrupt.
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