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When should a Business seek help?

Bruce Mulvaney

Updated: May 26, 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

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Bruce Mulvaney & Co​

 

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

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PO Box 226

Surrey Hills, Vic, 3127

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Bruce Mulvaney is a Registered Liquidator; and a Professional ARITA (Australian Restructuring Insolvency and Turnaround Association) Member and we utilise the ARITA precedents and technical resources. Additionally, our systems are based on the leading CORE Turnkey Insolvency Software.

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