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ClimateNE & Climate Change Schools Project support the move to a low-carbon, resilient economy and help businesses avoid risk and realise commercial opportunities. Posts by Jen Atkinson, Krista McKinzey and Harriet Thew » The Baked Snacks Company is yet again under fire for failing to pay its staff on time.
Workers have staged another blockade at the biscuit maker's premises at South Bank in attempt to force management into action.
The reaction of workers and unions to the situation is one of indignation and anger.
Staff who put in a shift are simply asking to be paid for work carried out, while unions have lambasted BSC for breaching agreed employment contracts.
But behind the bitter recriminations lies an even sadder story that has its roots in the financial crash of 2008.
BSC claims it cannot pay staff because funding bodies, still reeling from the near collapse of financial systems across the world, are unwilling to back the business.
CEO Mobeen Mehdi has lambasted banks and the Government for failing to back what he claims is a viable business that can create jobs and wealth on Teesside.
But his attempts to secure funding have repeatedly hit brick walls, raising concerns over the future of the business
The workers remain unconvinced that they will be paid on time, or in full, even if the funding is forthcoming.
But news that unions are bringing more than 20 cases against BSC to tribunal will be of little benefit if the firm has no capital to pay its debts.
Financial institutions remain spooked by the banking crisis which spread across the globe like wildfire in 2008 - meaning firms which rely on debt to fund working capital or expansion are left high and dry.
The problem looks light-years from being solved, despite bank claims that the lending tap has been turned on again.
Finance houses are caught between a rock and a hard place: under pressure to lend to homeowners and businesses, they are simultaneously expected to boost cash reserves to repair their battered balance sheets.
The private equity market, which is showing signs of stirring after a barren couple of years, could be the answer to Mr Mehdi's prayers.
But he and others may have to recognise that the days of debt-fuelled expansion are over.
While there will be exceptions, most companies will have to fund growth through revenue generation - or scale back their ambitions.
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