While many Western Australian businesses have re-opened and returned to business as usual, there are fears some will not survive the financial impact of the COVID-19 coronavirus pandemic.
When a business closes its doors, consumers often call Consumer Protection with concerns about money paid for goods or services that are yet to be received, or unspent gift vouchers or credit notes.
How consumers and creditors are affected when a business goes bust depends on the circumstances of each case.
If the business is a company, it becomes insolvent and can be put into voluntary administration where steps are taken to save it. Should that fail, the next step is often liquidation where the companys affairs are wound up in an orderly way and …
Read the full article at: https://www.miragenews.com/your-rights-when-a-business-goes-bust/
