Failure for 70% of Administration cases
November 2, 2016
Accountancy Live reports on research by Opus Restructuring & Company Watch, which confirms that in over two thirds of all Administrations started and completed in England & Wales in the past five years there has been no business rescue.
Nick Hood, business risk adviser at Opus Restructuring, said: ‘Around only 30% of business rescue attempts through the administration process are successful. It’s a disappointing result, which reflects the endemic ostrich-like behaviour of struggling entrepreneurs who wait far too long before admitting they have problems.”