Practical application of the CCB model in Czechia

This research aimed to present a new bankruptcy prediction model and apply this original method in practice. The Come Clean Bankruptcy (or CCB) uses relevant financial indicators ratios detect the signs of impending distress time so that management can take appropriate measures avoid it. was applied data reported by 199 entities operating textile/clothing industry Czech Republic. Analyzing for previous seven years enabled us predict which companies are more likely end difficult situation. Afterward, comparing these predictions with actual development those 2013-2020 serves verify efficacy usability corporate reality. has shown went bankrupt analyzed period represented only fraction set (roughly 4.5%). Despite small number failures occurring during period, CCB could one-third cases.