Consultancy.uk reports on research by Opus & the financial health monitoring specialists, Company Watch which shows that even when pre-pack sales are included, only 30% of businesses put through the Administration process survive.
“Nick Hood of Opus believes that a lot more troubled businesses could be rescued if they sought much earlier help from specialist advisers, allowing the business to leverage a much broader range of more options. “By not soldiering on as troubles accumulate, companies that get help stand a far better chance of refinancing or restructuring, saving more jobs and achieving higher and quicker recoveries for unsecured creditors.”