According to PMR Restructuring experts, the sectors most at risk of losing liquidity include transport, tourism and the furniture industry.
European leader braked out of business
- Transport companies, including passenger carriers, are struggling with a drastic drop in turnover, while at the same time having to repay credit, insurance and treasury liabilities, not forgetting about employee salaries. The characteristics of the sector are also not conducive to implementing remedial measures and getting out of the difficult situation. The high fragmentation of the market and huge competition have been contributing to low profitability for years - explains Małgorzata Anisimowicz, president of the company PMR Restructuring.
Equally significant losses could be suffered by domestic tourism.
- Tourism, unlike many industries, did not have a transition period. It immediately felt the effects of the pandemic and rapidly began to lose revenue. The peak of the season is still to come, but companies in the sector that do not take corrective action may not make it to the holidays. According to our estimates, with a total lack of revenue, most tourism companies will only be able to maintain liquidity for a month," says Małgorzata Anisimowicz.
Recovery plans needed "now"
Restructuring law provides a number of solutions that companies can use to protect their financial liquidity and secure key assets. Opening a restructuring application not only allows on freezing liabilities or their significant write-off as part of an arrangement with creditors, but it also provides the possibility of suspending the accrual of interest or protecting key contracts and resources. By using this solution, the entrepreneur gains both time to develop corrective actions or obtain additional financing, as well as the chance to renegotiate contracts or withdraw from unprofitable contracts.
10 April 2020. We invite you to read the full version:" Here are the industries most at risk of losing liquidity
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