Member Article
BUSINESSES struggling to recover in the wake of the COVID-19 pandemic are opting for restructuring rather than redundancy.
And a leading Sheffield financial expert is warning that the tough choice will see more companies closing their doors as the furlough scheme comes to an end and they may be facing forced closures and local lockdowns.
We are already talking to several business who are facing this terrible dilemma, said Deborah Lockwood, partner at insolvency and recovery practice Graywoods.
On the balance sheet or by any other financial test they are not insolvent but after so many months of uncertainty, mothballing, declining orders and incurring ongoing costs they do know that they will have to make redundancies.
An…
Read the full article at: https://bdaily.co.uk/articles/2020/10/14/struggling-businesses-facing-tough-choice-redundancy-or-restructuring