Examinership ‘an option for SMEs’

Small firms in financial trouble are being urged to consider examinership as a potential rescue option; with new data showing that process to have saved nearly 800 jobs already this year.

A new “SME Examinership Index” from chartered accountancy firm, Hughes Blake shows that 753 jobs were saved in small and medium-sized firms during the first nine months of this year; compared to 404 in 2011. The company said the figures highlight the important role that the examinership process can play in saving jobs — calling the option an “under-utilised recovery scheme which offers court protection, preserves jobs and benefits creditors”.

“Contrary to what some businesses may think, examinership is accessible to practically all companies and I would urge any business owner or manager — particularly those in the SME sector — to research the option prior to taking the drastic step of triggering liquidation,” said Hughes Blake’s managing partner, Neil Hughes.