My personal opinion is that directors will close down companies as they could be liable for not providing a safe working environment.

Kathmandu and Rip Curl stores to close today, laying off 1,300 employees

https://mobile.abc.net.au/news/2020-03-27/kathmandu-rip-curl-stores-close-1300-employees-laid-off/12095756?pfmredir=sm