Will we still be talking about the coronavirus crisis in 75 years?
With the Prime Minister laying out his plans for the staged lockdown easing, now is the time to think about what your business will look like in the post-pandemic world.
A quick V-shaped recovery is not likely to happen
The economic landscape is undeniably changing. And while some businesses are thriving, others can barely survive on the government support. With the deepest recession in modern history on the horizon and the expected sharp rise in unemployment, it’s safe to say that the economy will not bounce back any time soon.
Avoiding the “extinction debt”
We don’t know the full economic impact of the lockdown yet. But even with the available help of the furloughing scheme, rent and payment holidays, VAT deferral, and bounce back loans and grants, UK businesses are barely able to manage the cash flow emergency of this magnitude. And without a clear direction for the economic revival, many companies may be fated to close down.
Explore turnaround options
With business distress accelerating on an unprecedented scale, it’s crucial for the UK economy to escape any unnecessary insolvencies. In many cases, business turnaround or restructure options are available to get businesses back on their feet.
If you need help with understanding your options or planning the future, please contact us for a free impartial chat on 0800 118 2948.
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