Fri 14 August 2020 – 6:27 am
Government measures to prop up zombie businesses through the pandemic could actually be harming Australian small businesses, with new data showing company wind-ups have all but ceased in the past quarter.
Prushka Fast Debt Recovery revealed through data sourced from court records that the Australian Taxation Office and other government agencies, typically the largest source of company liquidations, have halted their winding up of businesses.
In April to June, 374 businesses issued Notices of Winding Up Applications, a decrease of 47 per cent compared to the last quarter, and 64 per cent year-on-year.
Roger Mendelson, CEO of Prushka, warned while the governments initiatives to support b…
Read the full article at: https://dynamicbusiness.com.au/topics/news/government-agencies-abandoning-company-wind-ups-could-cause-insolvency-tsunami.html
