Over 560 jobs saved as a result of Scarp rescue process, report finds

Some 50 small businesses have undertaken the small company administrative rescue process since its creation in December 2021

Almost all of the Scarps have been successful and led to the restructuring of the companies involved

Just over 560 jobs have been saved to date as a result of the Scarp rescue process for small and micro companies since its introduction two years ago.

The small company administrative rescue process (Scarp) was introduced to facilitate simplified out-of-court debt restructuring for small businesses deemed to be viable.

A process adviser is appointed under the scheme to prepare a rescue plan and to work with creditors to consolidate company debts.

Some 50 small ...