A significant uptake in small business restructurings (SBRs) over the last few years, and other data, suggest the SBR regime is playing an important role in assisting struggling small businesses to survive, a new ASIC report reveals.
Report 810 Review of small business restructuring process: 2022–24 (REP 810) showed there were 3,388 SBR appointments that commenced between 1 July 2022 and 31 December 2024 (the review period). This is a significant increase from the 82 SBR appointments from 1 January 2021 to 30 June 2022 revealed in Report 756 Review of small business restructuring process (REP 756).
The number of appointments continues to increase each year, with 448 appointments in 2022-23, 1,425 in 2023-24, and appointments for…