Future store after coronasteun stops

Does your store also use government support? Then you need to think about the future of your store.

Indeed, the NOW, the TVL and the Tozo will expire as of October 2021.

Not viable without government support

In the meantime, the coronagraph has reached €80 billion. This has prevented a lot of bankruptcies given the low number of bankruptcies declared since then. There are also companies kept afloat by the coronasteun that would not be viable without government support, despite the fact that since the summer most corona restrictions have been lifted. Is your store one of those businesses?

Not only the coronasteun stops but also taxes that have been suspended must eventually be repaid. What about rent payments? Are those waived (in part) during the corona restrictions or merely suspended? With all these debts pushed forward, it is advisable to look critically at the future of your store. Is the turnover sufficient to meet all these debts as well?

Soft landing

If in addition to these arrears and without government support you can (temporarily) no longer pay the current bills and the (expected) turnover after the lifting of the corona restrictions is insufficient to change this then it is necessary to think about stopping your store and take care of a soft landing.

Quick-scan

To assess the financial risks to your (private) position and that of any other stores, we have compiled a checklist. The quick-scan based on this checklist provides practical advice on:

• Continuing or stopping your store;
• Consequences for any other stores;
• Any impact on your personal situation.

If the quick-scan shows that the liquidity problems can be solved with a follow-up process, we can help you further by, for example:

• Assessing collateral in case of raising (additional) financing;
• Implementing contract restructuring or workforce reorganization;
• Hands-on guidance in an out-of-court settlement or WHOA settlement.

If your store is no longer salvageable, we will guide you to bankruptcy with a soft landing for both you privately and any other stores. So that unnecessary damage is avoided as much as possible even in that scenario.

Interested in a quick-scan? Then contact me or one of the attorneys on my team.