THE impact of COVID-19 on the economy is likely to be long-lasting. The UK economy contracted by 2 per cent in the first quarter of 2020 and analysts expect the figure to be worse for the second quarter as lockdown continues.
The Scottish and UK Governments financial support measures have been a massive lifeline to businesses, enabling them to continue and providing the opportunity to come out of lockdown with hope for the future. Even with this support many businesses will struggle to survive and there are a number of issues and options that these businesses should be considering.
It is important to be fully aware of your directors duties and obligations. If it looks like your business may struggle to meet its liabilit…
Read the full article at: https://scottishbusinessnews.net/2020/05/28/restructuring-and-recovery-for-the-future/