More than two-thirds of the companies that have entered the Small Companies Administrative Rescue Process (Scarp) have had their rescue plans approved by creditors, saving 367 jobs to date, fresh data shows. The figures, which were analysed by JW accountants, a specialist advisory firm based in Dublin, show fifteen out of the 22 companies that have entered Scarp have had their rescue plans approved. One case is still ongoing. The companies, which have used it to date, are predominantly spread across hospitality, retail, construction, and marketing and media. The Scarp process was first introduced in December 2021 to provide a…

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More than two-thirds of Scarp companies have exited successfully

A little over a year after it was first introduced Scarp, the examinership-lite process, has proved a successful lifeline for Irish firms in financial distress. The next twelve months are likely to see a further uptick in its uptake.

13th Jan, 2023 - 2 min read

Rosanna Cooney

Business Correspondent

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