Monday September 21, 2020

Soaring numbers of SMEs seek advice on renegotiating debts

Growing demand to restructure with lenders is seen as a sign that firms are moving beyond the survival mode' of recent years, writes Elaine O'Regan.

7th September, 2014
It's important to be proactive in approaching the bank with any repayment problems.

The number of SMEs seeking debt restructuring advice has doubled in the past 18 months, as more companies seek to initiate negotiations with their lender.

In response, banks are beginning to introduce more formalised negotiation procedures to satisfy increased demand for SME debt restructuring, according to Chris Ball, corporate finance director with business advisory firm Russell Brennan Keane (RBK).

''There is a growing realisation that existing debt or repayment levels are not sustainable over the medium...

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