Switzer Daily
4 May 2021
It’s
economic boom time for Australia but businesses are failing faster this year
than last year. Who’s to blame? The Morrison Government? State governments?
‘Selfish’ work-at-home employees? The Chinese health system that gave birth to
the Coronavirus? Or hard-working yet unprofessional business owners who have
found the threats of business too much?
All the
above!
These
crucial questions I considered when 2GB breakfast host, Ben Fordham, asked me
to look at a
Daily Tele story on the businesses collapsing since the end
of JobKeeper at the end of March.
Like all
good
Tele yarns, the headline grabs you: “NSW
Builders and cafes hit as insolvencies spike 36 per cent A high-profile building company was among the 60 Queensland firms collapsing last month as the end of subsidies put increased pressure on finances.
Business by Glen Norris
Premium Content
Subscriber only High-profile building company PlanBuild and a famous North Queensland restaurant were among the Queensland firms that collapsed last month as the end of subsidies such as JobKeeper put increased pressure on finances. The number of Queensland companies that had liquidators or administrators appointed during April increased 36 per cent to 60 from 44 in March. SM Solvency Accountants partner Brendan Nixon said he was surprised business failures had not increased more to date due to the impact of COVID-19. Insolvency experts warned last year of a tsunami of company collapses due to the pandemic.
Builders and cafes hit as insolvencies spike 36 per cent qt.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from qt.com.au Daily Mail and Mail on Sunday newspapers.
âZombieâ firms kept alive to grab government cash Scores of âzombie companiesâ were kept alive in order to receive final government stimulus measures before being shut down, according to an insolvency expert.
Business by Glen Norris
Premium Content
Subscriber only Scores of zombie companies have been kept alive in order to receive final government stimulus measures before being shut down, according to a leading insolvency expert. Revive Financial partner Jarvis Archer said the clean up of zombie companies was under way with an increase in liquidation appointments across a range of industries. A zombie company is defined as a failing firm that needs a bailout to successfully operate.
âZombieâ firms kept alive to grab government cash Scores of âzombie companiesâ were kept alive in order to receive final government stimulus measures before being shut down, according to an insolvency expert.
Business by Glen Norris
Premium Content
Subscriber only Scores of zombie companies have been kept alive in order to receive final government stimulus measures before being shut down, according to a leading insolvency expert. Revive Financial partner Jarvis Archer said the clean up of zombie companies was under way with an increase in liquidation appointments across a range of industries. A zombie company is defined as a failing firm that needs a bailout to successfully operate.