As New Zealand businesses continue to face mounting financial pressure, one firm is urging owners not to wait until the only choice left is liquidation.
BWA Insolvency is a leading New Zealand specialist in voluntary administration (VA), a process that allows financially distressed companies to restructure and recover rather than collapse.
But despite its potential to save viable businesses, VA remains severely underutilised.
According to BWA Insolvency’s latest quarterly market report, more than 700 businesses entered liquidation in the most recent quarter – in contrast, just four opted for VA.
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Bryan Williams, principal of BWA Insolvency, said the data reflects a widespread lack of awareness.
“We…