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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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Bruce Mulvaney & Co​

 

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

Email Bruce Mulvaney

Suite 307, 629 Canterbury Rd,

PO Box 226

Surrey Hills, Vic, 3127

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Memberships

We are a full member of ARITA (Australian Restructuring Insolvency and Turnaround Association) and utilise the ARITA precedents and technical resources. Additionally, our systems are based on the leading CORE Turnkey Insolvency Software.

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