The companies APC Audit Tax Advisory Ltd and CITR Cyprus Ltd announce their cooperation entitled: Facing the Challenge – 2021. The aim is to help the long-suffering Cypriot Hotels to adapt, survive and finally overcome the great challenges they face due to the Coronavirus pandemic.
APC is a company with over 20 years of experience in the Cypriot business sector and a wide range of expertise ranging from auditing, accounting and financial consulting services, to corporate restructuring / rescue and company and risk management consulting services).
CITR Cyprus is the Cypriot subsidiary of CITR Romania. CITR Romania is a leader in restructuring services in Romania with over 20 years of experience in insolvency services, and restructuring and crisis management, in a wide range of economic sectors and economies. They have a long history of successfully restructuring numerous large and medium-sized organisations and successfully rescuing distressed companies from bankruptcy.
The two companies decided to join forces to offer a comprehensive package of services to Cypriot Hoteliers, thus equipping them with the appropriate weapons for the proper management of the evolving pandemic and the strengthening / restructuring of their organisations with the ultimate goal of returning to profitability and healthy growth.
The first message they want to get across to the hotel sector is that the time for action is now. The evolution of the pandemic has made it clear that those companies that do not act immediately will soon face, liquidity problems that may eventually lead to insolvency and bankruptcy.
There are many factors that contribute to the above conclusion, including the imminent lifting of the moratorium on deferral of loans by banks (and the possible reluctance to extend it), the development of the second wave of the pandemic in Cyprus and Europe, and the unfavourable situation of the state budget, which complicates the prospects for substantial state aid to the sector.
The two companies formulated the guide “Facing the Challenge – 2021: Building a Rescue Culture”, which contains tips for better management of the pandemic, and which offer free to interested professionals in the hotel sector.
For more information you can contact:
APC Audit Tax Advisory: info@apccpa.eu +357 22 445004
CITR Cyprus: office@citr.com.cy +357 22 027621