New research into the Small Company Administrative Rescue Process (SCARP) scheme has shown that 206 jobs have been saved so far this year as the number of businesses starting the process drops significantly.
The SCARP scheme was first introduced in late 2021 to help small and micro companies who are still viable, yet insolvent, restructure their debts, avoid liquidation and ensure creditors get a better outcome rather than the company being wound down.
The scheme involves a process advisor being appointed to prepare a rescue plan for the business and to work with creditors to consolidate company debts.
Research conducted by the SCARP advisory group Azets Ireland has found that during the first six months of the year, 13 SCARPs were comm…
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