Thousands of businesses still struggling to stay alive should consider closing, with a leading insolvency firm declaring now is “crunch time” for them to survive or die.
Thursday marks 50 days before key government stimulus measures, thought to be supporting thousands of businesses, come to an end.
December 31 will mark the end of the insolvent trading moratorium, the first tranche of JobKeeper 2.0 and the commercial eviction moratorium.
Insolvency firm Jirsch Sutherland said now was the time for directors to see the writing on the wall and warned them they could be liable for damages if they continue to trade while insolvent.
“It’s vital that businesses don’t ignore the warning signs of insolvency – otherwise they could miss the wind…
Read the full article at: https://www.gattonstar.com.au/news/crunch-time-240k-businesses-face-collapse-in-50-da/4138443/
