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  • Bruce Mulvaney

Company Crisis in Lockdown

What can Victorian Businesses do now that we are in a further lockdown?


Three weeks into a six week stage three lockdown, a new stage four lockdown lasting at least six weeks has commenced.


As the Federal Treasurer says this is a fluid situation.


Solvency (the ability to pay debts as and when they fall due) is a real challenge for many businesses.


Overnight, businesses already suffering from a severe drop in sales, are now facing the frightening prospect of a complete wipe out of sales for at least six weeks.


Bruce Mulvaney & Co can provide expert help to manage a company in crisis to enable creditors claims to be frozen whilst a solution is put in place, and where possible lifting the restrictions on a business so that it can be saved wherever possible.


We're experts in restructuring and dealing with the myriad of issues that otherwise would preoccupy Director's time.


Sadly in some cases a business cannot be saved. In a liquidation with insufficient funds, the government's Fair Entitlements Guarantee scheme pays some entitlements to eligible employees.


Give us a call on (03) 9896 9000 today.

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Contact Us

Bruce Mulvaney & Co​

 

Tel: (03) 9896 9000
Mob: 0418 848 212

Fax: (03) 9896 9001

Email Bruce Mulvaney

Level 4, 858 Glenferrie Rd,

Hawthorn, Vic, 3122

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Liability limited by a scheme approved under Professional Standards Legislation                                                                                                                      © 2021 by Bruce Mulvaney & Co

We are a full member of ARITA and utilise the precedents and technical resources. Additionally, our systems are based on the CORE Turnkey Insolvency Software.