news, latest-news, Ben Ismay, Shaw Gidley, insolvency, business, economy, 2020, Port Macquarie
Figures show a plunge in company insolvencies across the country in April and May despite the coronavirus-fuelled hit to the economy. The trend is forecast to continue, particularly until the end of September when the JobKeeper wage subsidy is wound back. Shaw Gidley Port Macquarie partner Ben Ismay said there were predictions about the economy falling off a cliff at the end of September before the federal government’s JobKeeper extension announcement. “Hopefully now that won’t occur with the introduction of the second phase of JobKeeper but only time will tell on that front,” he said. So-called zombie businesses, debt-ridden and propped up …
Read the full article at: https://www.portnews.com.au/story/6858087/swift-advice-key-for-financially-troubled-businesses-expert-says/
