New summary rescue plan could be lifeboat for struggling SMEs

Proposals to introduce an ‘examinership-lite’ process which avoids costly court procedures could be a lifesaver for businesses and the exchequer alike

17th January, 2021
New summary rescue plan could be lifeboat for struggling SMEs
Combined with government actions such as raising the threshold before creditors can apply to the courts to have a firm wound up from €25,000 to €50,000, this has meant more firms have been able to trade through Covid-19

Given all the economic upheaval of the past ten months, it is remarkable that so few businesses, many of which have been involved in stop-start operations and rely on government support, have actually collapsed.

There have been some high-profile insolvencies since March 2020, mostly among the Irish arms of British retail chains. But according to figures released last week by Deloitte, the auditing and consulting firm, insolvencies in 2020 rose by just 1 per cent...

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