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Old 03-04-2020, 09:46   #16
gaz007
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Thatís my understanding as well.

Iíd say thereís going to be a fair few companies facing liquidation after the coronavirus crisis.
Many through no fault of their own. Itís a simple calculation if you need X coming in to support Y going out, if X is stopped, Y may get unmanageable forcing liquidation.
Hence why I think itís important to view company accounts in context.
There is a big difference between being a reckless conman, and genuinely being the victim of external forces you canít control.

(I will add that none of the above is written from my perspective we are doing fine albeit having to work hard at the moment, nobody has even been furloughed at our place during this coronavirus lockdown)
Glad to hear your firm is getting through this ok Ross and yes this Covid job is going to see the biggest slow down possibly ever seen it's looking like.I agree it's the difference between the conmen who actually plan bankruptcy to fleece customers on purpose make no mistake on that and the genuinlely unplanned
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Old 03-04-2020, 10:07   #17
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Iíd say thereís going to be a fair few companies facing liquidation after the coronavirus crisis.
Tell me about it....it was a terrible time to open my bat soup restaurant.
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Old 03-04-2020, 12:05   #18
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Glad to hear your firm is getting through this ok Ross and yes this Covid job is going to see the biggest slow down possibly ever seen it's looking like.I agree it's the difference between the conmen who actually plan bankruptcy to fleece customers on purpose make no mistake on that and the genuinlely unplanned
It's not easy for anyone. What worries me is the companies that *could* adapt to the current climate but choose not to with so many stood there with hand out. A fair few are getting good support, plus the 80% subsidised furlough is a great perk for companies that have to cut back to survive.
I an understand it completely if you are in pub / catering industry, clearly they have had there hands firmly tied, but there is many other industries that could adapt and operate whilst not adding to the spread of the virus or put employees and more risk than they would have doing the weekly shop.
My fear is more based on how long is it going to take to pay all this back and what will the economy be like going forward for small businesses.
Move to the Cayman Islands on the cards once this is over
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Old 03-04-2020, 12:42   #19
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and what will the economy be like going forward for small businesses.
Well I can't take advantage of any of the g'ment schemes, I'm not getting a penny, but when this is all over I'll be paying even more in tax to pay for those that did get help. The g'ment should track who has been given help and who hasn't and keep taxes low for those who got no help at all.
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Old 03-04-2020, 14:46   #20
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That’s a good one Aidy & I also think that Key Workers should get paid extra too!
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Old 03-04-2020, 15:01   #21
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It's not easy for anyone. What worries me is the companies that *could* adapt to the current climate but choose not to with so many stood there with hand out. A fair few are getting good support, plus the 80% subsidised furlough is a great perk for companies that have to cut back to survive.
I an understand it completely if you are in pub / catering industry, clearly they have had there hands firmly tied, but there is many other industries that could adapt and operate whilst not adding to the spread of the virus or put employees and more risk than they would have doing the weekly shop.
My fear is more based on how long is it going to take to pay all this back and what will the economy be like going forward for small businesses.
Move to the Cayman Islands on the cards once this is over
I'm in the Fish and Chip shop trade eating in aswell as take away but I decided best to shut the whole lot when the lockdown started.
1st customers were not acting as they should have been and couldnt even follow a simple A board request of only 1 person in the shop at a time.
2nd My fish supply chain is all closed down.
My business will get through this fine and the grant helps too but what about my summer trade its these 7 months that I make most of my profits in.
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