• Bruce Mulvaney

When should a Business seek help?

Updated: May 27, 2020

The usual "goalposts" are:

1. When Employee Entitlements have been paid on time, but cash flow is deteriorating.

2. If there is a suspicion that any creditor will not be able to be paid when due in the future.

3. When critical suppliers, taxes and/or employees cannot be paid

In the current environment suppliers will be less inclined to give credit to their customers. Moves to C.O.D. terms would put further pressure on cash flow.

Whilst the government has provided some temporary relief, the announced new measures will not replace the steps urgently needed to solve the overall problems a Business is facing.

It is our experience that the sooner steps are taken to address the problems the better the outcomes.

Give us a call on (03) 9896 9000

Recent Posts

See All

SME NRP - NewsRadio Interview

My News Radio Interview with Steve Chase is a Helicopter 5 Minute View of the New Small Business Restructuring Process - Help for Directors to Overcome COVID Challenges and to work with their Creditor

New Restructuring Process

The government has announced a new restructuring process and also a new streamlined liquidation process, both expected to commence 1st January 2021. The sooner companies seek help the better the outco

Victoria - COVID Safe Plan

Under Stage Four Restrictions all Businesses with five or more employees that continue to operate from a workplace, worksite or on the road (to any extent) must have a COVID Safe Plan in place from 11

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

Socialize With Us

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.

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