Many viable Irish firms are going to the wall without trying the rescue processes available. BDO’s Ian Barrett looks at the under-utilised roles of Scarp and examinership
Dozens of companies are potentially going to the wall without trying business-saving rescue processes.
Last year, only 43 attempts of corporate rescue processes were made out of 812 insolvencies.
Both examinership and small business rescues remain under-utilised processes when investment is required to save financially distressed but viable companies.
These processes must be explored as they provide viable startups with an opportunity to restructure debts and ensure their survival.
There is still an extremely low uptake of the Small Company…