War chest - Definition

In business, a war chest is a stash of money set aside to deal with unexpected changes in the business environment. The term originates with the medieval practice of having a chest, literally, filled with money to open in time of war.

Companies rarely have a war chest anymore, relying instead on quickly raised debt which costs nothing to carry when you don't need it. This is not always a reasonable substitute, as the debt available to a company typically drops as a result of the same actions that require the war chest to be opened.