Posts tagged "zombie businesses"

Businesses whose employees are covered by pre-2010 workplace agreements have just two weeks to inform their staff those pay deals will expire at the end of the year.

Zombie business — a term used to describe any company so debt laden it can only afford to pay interest on its loans. 

Australian small business ombudsman Kate Carnell has called out a growing number of big businesses for continuing to delay paying their smaller suppliers, including retail group Premier Investments.

Since March, the number of companies entering external administration has been unusually low, suggesting an insolvency avalanche.

"No point in sugar-coating this, weaker businesses are going to die. Let’s try to stop your business from being one of those."