Prevention of bankruptcy of industrial enterprises in an unstable market environment

The subject of the study is theoretical and practical aspects of the formation of a system of anti–
crisis measures to prevent the bankruptcy of industrial enterprises.
The purpose of the study is to develop anti–crisis measures for the recovery of industrial
enterprises operating in an unstable market environment.
Research methods. In the process of writing the article, the following methods were used:
abstract–logical, systematization and grouping.
Results of work. As a result of the conducted research, it was stated that the key reason for the
emergence of a crisis situation at domestic industrial enterprises is the lack of an early warning and
response system, and bankruptcy is a natural result of a systemic crisis caused by the synergistic
effect of various types of crises inherent in the economic entity.
In the scientific article, the stages of the crisis at the enterprise are defined and it is noted that
temporary financial investments do not allow industrial enterprises to be brought out of the state of
crisis, since the lack of funds is a consequence, not a cause.
The paper presents the stages of financial and economic rehabilitation of economic entities.To predict
bankruptcy, it is proposed to use the model of determining the level of viability of industrial enterprises by
V.P. Martynenko, the use of which will make it possible to obtain a detailed picture of the crisis financial
state of the enterprise and to apply the most optimal methods and forms of its future financial recovery.
The following types of restructuring are proposed within the framework of the operational mechanism
for industrial enterprise recovery: restructuring of current and non–current assets, liabilities,
production, marketing, personnel and organizational restructuring.
In the work, it is recommended to restore financial stability in the long term by carrying out a
comprehensive restructuring of the industrial enterprise.
Field of application of results. Management, enterprise economy, enterprise finance.
Conclusions. As a result of the research in the scientific article, it was determined that the origin of
the insolvency of the enterprise is caused by financial, economic, commercial, managerial, social and
organizational crises.
The conducted research made it possible to determine that the implementation of the financial and economic rehabilitation of the enterprise is a key factor in the recovery of the industrial enterprise
and should include the following stages: early detection of potential signs of a crisis state, which
may cause the introduction of bankruptcy procedures; determination of the scale of the crisis at the
industrial enterprise; study of the factors that determine the crisis situation and the development
of an industrial enterprise; definition of goals and selection of basic methods of improvement of the
enterprise; selection of appropriate forms of rehabilitation of the enterprise.
The work noted that the integral and most important component of the rehabilitation process is
the coordination and control of the planned activities. It is noted that the use of the proposed stages
of rehabilitation by industrial enterprises will reveal hidden reserves, improve the organization of
production, increase the quality of products, reduce operational costs in production, create an efficient
team and a team atmosphere.