Administrator warns Bathla Group faces closure on Thursday
Debt-ridden property developer Bathla Group will not survive past Thursday without an urgent cash injection to meet payroll, according to its administrator.
Some of the company's 350 staff haven't been paid for 8 weeks, Teneo said in a press conference on Monday.
"We can't go to the end of the week if we don't have money for payroll on Thursday," Stephen Longley, Teneo's senior managing director, said. "So unless that situation can be resolved, we won't have any other option but to close the business." ABC business (AU) reports.