SMEs will either shut or go bankrupt - ARAB TIMES : vimarsan

SMEs will either shut or go bankrupt - ARAB TIMES


Covid takes its toll on businesses
KUWAIT CITY, July 10: According to reliable sources, a large section of small-sized and medium-sized companies and others are considering applying for liquidation, indicating the most violent wave that the country is yet to witness in terms of the exit of institutions from the market due to the inability to continue coping with the repercussions of the COVID-19 pandemic on businesses, reports Al- Nahar daily. They revealed that a number of companies and owners of small and medium enterprises are studying liquidation methods to take advantage of the bankruptcy and creditor protection law, which is expected to be activated, and offering many projects for sale at low prices, due to the inability to keep pace with the current situation. The sources explained that studies have revealed a surge in the desire to get rid of projects due to the poor financial situation and the inability of a number of companies to fulfill their obligations towards suppliers, as well as rental owners. T

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