Tunbridge Wells, UK: The FTA’s fifth Coronavirus Logistics Impact survey has revealed that nearly a quarter of respondents believe their companies are in danger of financial collapse in the next eight weeks.
Another result of the survey, dated 20 April, was that 86% of respondents are experiencing a general business downturn due to work or orders being cancelled.
“We need to act now,” said FTA in a Tweet.
Earlier in the month FTA called on the government to provide further financial support for the logistics industry. It wanted to see an extension to the Coronavirus Job Retention Scheme to provide certainty of employment, along with the creation of a Supply Chain Continuation Fund to give particular help and support to specific areas and sectors hardest by the economic slow down.
The FTA also wanted a sympathetic repayment plan to any company taking up a Corona Business Interruption Loan Scheme, dependent on profits having returned first.
