Business
Closing and reopening during coronavirus shutdown rollercoaster takes toll on businesses – ABC News
Shutting down a business isn’t as easy or as cheap as simply turning the lights off, and neither is reopening. Nearly a quarter of businesses receiving coronavirus assistance warn they expect to close when the support is withdrawn.
Inner-Sydney restaurant NOMAD remains shut, but it was not the coronavirus pandemic that forced it out of action initially.
Key points:
- Shutting down a business can be costly and involve costs of storage, loss of perishable goods and meeting “make good” clauses in leases
- The Bureau of Statistics says 24pc of businesses receiving financial support expect to close when it is withdrawn
- Sal Algeri from Deloitte Restructuring says firms in industries already under pressure a…
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