‘Steep’ rate of business failures coming
Maria Slade, NBR interviews RITANZ chair, John Fisk.
2021 will be the watershed year for firms going bust, liquidators say.
New Zealand has “kicked the can down the road” and can expect a slew of company collapses next year, a leading insolvency practitioner says.
Measures such as the wage subsidy have put the brakes on business failures but there will be a lag, says PwC partner John Fisk, who is also chair of the insolvency industry body RITANZ (Restructuring Insolvency and Turnaround Association New Zealand).
“I think 2021 will be the watershed year when a lot of this starts to become a real issue,” he said.
