PwC partner Stephen Longley expects a surge in retail collapses once the federal government’s JobKeeper wage subsidy scheme ends in late September.
Longley has been appointed administrator of retailer PAS Group, which went into voluntary administration on 29 May. Meanwhile, KPMG restructuring partner James Stewart forecasts the use of what he terms ‘tactical’ administrations, whereby the owner of a business has decided that it needs to be repaired and feels that restructuring it through the administration process is the best way to achieve this:
“I do think people will look at the administration process as a way of restructuring or just fixing the balance sheet,” said PwC partner and PAS Group administrator Stephen Longley…
