The founder and CEO of an Australian restructuring advisory is urging struggling travel companies to urgently seek financial advice before JobKeeper is wound back.
Last month, Mackay Goodwin was appointed to handle the voluntary administration process of JMW Travel, which traded as Victorian travel agencies Helloworld Monbulk and Helloworld Bentleigh, as well as Nexus Business Travel.
Mackay Goodwin chief Domenic Calabretta is worried the company is only the first of many in the travel industry who will find themselves in a similar situation by 28 March, which is when the federal governments JobKeeper payments are scheduled to end.
Sadly, we know there will be more travel businesses experiencing hard times, but acting now and seeking he…
Read the full article at: https://www.travelweekly.com.au/article/collapse-of-helloworld-agencies-prompt-urgent-warning-from-business-restructuring-expert/