12 What Have We Learned about the Corporate Sector in COVID-19?
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Sally Wheeler
Abstract
The most obvious story about business that could come from lockdown is one of the severe economic strain that will be experienced as a result of the drop in consumer demand that occurs when people are no longer able to move freely. Short-term government intervention will postpone insolvency. The employee furlough scheme aside, this intervention has taken the form of the cancellation of business rates for particular industries (retail, hospitality and leisure) with a cash grant scheme targeted at smaller businesses in those sectors. Other industries, such as fishing, have been similarly supported. Businesses occupying low-value properties have been given small business rates relief. Small- and medium-sized enterprises have been reimbursed for 14 days of employee sick pay if the absence is COVID-19-related to include employees who were self-isolating as well as those who were sick.
However, this support has been insufficient for some businesses. As lockdown has eased there have been numerous announcements of businesses, particularly in the retail, hospitality and consumer goods manufacturing that will not resume trading – for example, Harvey’s Furniture, Victoria’s Secret, Antler Luggage, Quiz and Debenhams have all announced that they are in difficulties. Large concerns like these will be able to sell their brand name or continue to trade while in administration or under a voluntary agreement as they search for a buyer or reach a settlement with some key creditors; others have announced that they will restructure and trade only in some markets, using particular channels, for example Feather & Black will move to a concession and online business only, and Cath Kidston will be online-only in the UK with stores in Asia.
Abstract
The most obvious story about business that could come from lockdown is one of the severe economic strain that will be experienced as a result of the drop in consumer demand that occurs when people are no longer able to move freely. Short-term government intervention will postpone insolvency. The employee furlough scheme aside, this intervention has taken the form of the cancellation of business rates for particular industries (retail, hospitality and leisure) with a cash grant scheme targeted at smaller businesses in those sectors. Other industries, such as fishing, have been similarly supported. Businesses occupying low-value properties have been given small business rates relief. Small- and medium-sized enterprises have been reimbursed for 14 days of employee sick pay if the absence is COVID-19-related to include employees who were self-isolating as well as those who were sick.
However, this support has been insufficient for some businesses. As lockdown has eased there have been numerous announcements of businesses, particularly in the retail, hospitality and consumer goods manufacturing that will not resume trading – for example, Harvey’s Furniture, Victoria’s Secret, Antler Luggage, Quiz and Debenhams have all announced that they are in difficulties. Large concerns like these will be able to sell their brand name or continue to trade while in administration or under a voluntary agreement as they search for a buyer or reach a settlement with some key creditors; others have announced that they will restructure and trade only in some markets, using particular channels, for example Feather & Black will move to a concession and online business only, and Cath Kidston will be online-only in the UK with stores in Asia.
Chapters in this book
- Front Matter i
- Contents vii
- List of Figures and Tables ix
- Notes on Contributors xi
- Preface xiii
- Series Editor’s Preface xv
- Introduction 1
-
Justice
- Ruling the Pandemic 15
- Remote Justice and Vulnerable Litigants: The Case of Asylum 27
- Virtual Poverty? What Happens When Criminal Trials Go Online? 41
- Genera-Relational Justice in the COVID-19 Recovery Period: Children in the Criminal Justice System 53
- Racism as Legal Pandemic: Thoughts on Critical Legal Pedagogies 65
- Rights and Solidarity during COVID-19 79
- COVID-19 PPE Extremely Urgent Procurement in England: A Cautionary Tale for an Overheating Public Governance 93
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The Social
- Accountability for Health and the NHS under COVID-19: The ‘Left behind’ and the Rule of Law in Post-Brexit UK 107
- COVID-19 in Adult Social Care: Futures, Funding and Fairness 119
- Housing, Homelessness and COVID-19 131
- Education, Austerity and the COVID-19 Generation 143
- What Have We Learned about the Corporate Sector in COVID-19? 155
- Social Security under and after COVID-19 171
- Maintaining the Divide: Labour Law and COVID-19 187
- From Loss to (Capital) Gains: Reflections on Tax and Spending in the Pandemic Aftermath 199
- Index 209
Chapters in this book
- Front Matter i
- Contents vii
- List of Figures and Tables ix
- Notes on Contributors xi
- Preface xiii
- Series Editor’s Preface xv
- Introduction 1
-
Justice
- Ruling the Pandemic 15
- Remote Justice and Vulnerable Litigants: The Case of Asylum 27
- Virtual Poverty? What Happens When Criminal Trials Go Online? 41
- Genera-Relational Justice in the COVID-19 Recovery Period: Children in the Criminal Justice System 53
- Racism as Legal Pandemic: Thoughts on Critical Legal Pedagogies 65
- Rights and Solidarity during COVID-19 79
- COVID-19 PPE Extremely Urgent Procurement in England: A Cautionary Tale for an Overheating Public Governance 93
-
The Social
- Accountability for Health and the NHS under COVID-19: The ‘Left behind’ and the Rule of Law in Post-Brexit UK 107
- COVID-19 in Adult Social Care: Futures, Funding and Fairness 119
- Housing, Homelessness and COVID-19 131
- Education, Austerity and the COVID-19 Generation 143
- What Have We Learned about the Corporate Sector in COVID-19? 155
- Social Security under and after COVID-19 171
- Maintaining the Divide: Labour Law and COVID-19 187
- From Loss to (Capital) Gains: Reflections on Tax and Spending in the Pandemic Aftermath 199
- Index 209
