Financially distressed firms also affect communities in which they are located in terms of increasing unemployment and eroding the tax base.

Name: Financially distressed firms also affect communities in which they are located in terms of increasing unemployment and eroding the tax base.
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Question

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Financially distressed firms often have to lay off employees, leading to increased unemployment in the community. They may also struggle to pay taxes, which can erode the tax base of the community.

Financially Distressed Firms Also Affect Communities in Which They Are