Hospitality Businesses Faces Liquidity Issues due to COVID-19

  • Jun 26, 2020 NZST
  • Team Kalkine
Hospitality Businesses Faces Liquidity Issues due to COVID-19

As per Stats NZ, many hospitality businesses in New Zealand did not have a substantial amount of assets in their hand to meet short-term liabilities due to trading restrictions caused by COVID-19. As per annual enterprise survey:

  • Takeaway businesses, cafes, and motels had some of the lowest current ratios of NZ businesses in FY19;
  • The current ratio for bars, cafes, restaurants, and takeaways in 2019 was 58 per cent.

 


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