Temporary Business Closure Possible?

[Activated]

Hi i was wondering if anybody knew if it was possible to temporarily close your company with whats going on at the moment and leave it dormant until we are ready for business again. We run a hotel and do not have any customers for the foreseeable future so if its possible we would like to shut down for maybe 8 months and then reopen. Has anybody done this and how do i go about doing this?

[Kwasaki]

Well if your in the hotel business you should know already.

[mr_lob]

We also own a resort. All staff on 50% salary and 50% of working hours and all with crossed fingers. Just hope it doesn't get too bad in Thailand...but with the current bungling "leadership" ...they couldn't arrange a fart in a paper bag...let alone put the country on lockdown.

[Don Mega]

Does the front door not have a key that locks it ?

[Russell17au]

We also have a business and the doors were closed by the ministry of health on 18 March until 31 March to start with, so we still have bills to pay but now we have no income until we are allowed to re-open and there is no guarantee that we will be allowed to open on 31 March. Then once we are allowed to re-open then we must try and build our business back up again. It took us just over 12 months to build our business up to a reasonably good level with good clientele and now we have lost all income, so if it does not go too long and we can re-open in a short time then we must work hard to re-establish our clientele base again. If it goes too long then it will be permanent closure with a lot of money lost

[Activated]

obviously some people are not reading between the lines....... closing a door is not temporarily closing a business...... accountants still get paid, tax is still paid, social security for staff who are not working. 

[Operator2002]

In the past I remember some budget hotels in Phuket used to temporary stop operation for summer period because of low season and weak demand (though I don't know how they managed to do it). 

 

[Don Mega]

On 3/27/2020 at 10:20 AM, Activated said:

obviously some people are not reading between the lines....... closing a door is not temporarily closing a business...... accountants still get paid, tax is still paid, social security for staff who are not working. 

Staff are to be paid  75% salary.

 

 

Edited March 28, 2020 by Don Mega

[Peterw42]

37 minutes ago, Don Mega said:

Staff are to be paid  75% salary.

 

 

Where does that statement come from ? Is that part of a Government order ?

[tifino]

50 minutes ago, Operator2002 said:

In the past I remember some budget hotels in Phuket used to temporary stop operation for summer period because of low season and weak demand (though I don't know how they managed to do it). 

 

but now they have to endure Closing for an extended siberian winter!

[Don Mega]

10 minutes ago, Peterw42 said:

Where does that statement come from ? Is that part of a Government order ?

Amendment to the Labour Protection Act passed on December 13 2018.

 

I got that statement from Bangkok Post.

[BigFun]

Yes, during the covid crisis staff can receive 50% of wages, capped at 15k, from social security fund. They

Must have paid in for 6 of the previous 15 months I seem to recall. 

[jumbo]

If the company is voluntarily closing than the suspenstion act, as shown above payments at 75%, needs to be followed

If it is closed by law, like hotels/catering business, SS comes to help the staff

Corporate tax payment, normally due April 1, has been postponed until August 1

If the situation as now is extended there could be other tax related benefits announced.

 

It's pretty murky, but as one poster suggested, suppliers, utilities, fixed expenses, rents, taxes will still have to be paid..

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