One of the mysteries of the English language finally explained.
The practice of taking over a company in financial difficulties and selling each of its assets separately at a profit without regard for the company's future.
- ‘We are exporting our manufacturing base and government policy is contributing to this asset stripping.’
- ‘If the company declares bankruptcy within two years of the deal you risk being charged with conspiracy in asset stripping and could lose the property without compensation or recourse.’
- ‘This looks like asset stripping of the worst kind.’
- ‘Unlike employees of a large enterprise, employees/owners of a small enterprise are less likely to rely upon profit reserves and asset stripping for the immediate improvement of their living conditions.’
- ‘However, his ‘company limited by guarantee’ does not exist and will have to compete against private asset-stripping bids for the tracks.’
- ‘Out there in the world of university money and politics we are witnessing thinking and planning that involves sly manoeuvring, takeover bids, and asset stripping.’
- ‘For decades, a string of managers have had to preside over the board's policy of asset stripping, as a succession of our best players have been sold off.’
- ‘One of Scotland's most famous private schools has rejected claims of asset-stripping after buying an exclusive girls' college, only to close it down a year later.’
- ‘The asset stripping had begun long before last week.’
- ‘The prohibition had its origins in the common law objections to a company reducing its capital and legislative fears of asset-stripping takeovers.’
- ‘In the short term it could have had the advantage of preventing any asset stripping and in the medium term it might have revitalised union organisation.’
- ‘When working on controversial buy-outs, they have been accused of asset stripping and looking to make a fast buck without caring about the future of employees.’
- ‘The greatest asset-stripping scandals occurred in companies that remained under state control.’
- ‘They would be free to pick and choose which services to provide and which to withdraw, and free to embark on asset stripping.’
- ‘It is disgraceful that hard working people can have their lives turned upside down by the sale of an estate over their heads in what is an exercise in asset-stripping.’
- ‘‘It seems to be a clear case of asset stripping by a multinational company,’ he said.’
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