Stefan Steyn, senior business rescue practitioner from Business Rescue Partner, unpacks business rescue and the options available for SMEs.
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Another positive week for the JSE, as investors turn positive on the news that quite a few countries are lifting lockdown restrictions. S&P ratings agency downgraded SA further into junk status, but the Rand is still holding below 19/US$. Edcon has filed for voluntary business rescue, as Comair find themselves in a “very difficult“ financial situation. The US Fed kept rates on hold, while another 3.8m Americans registered for unemployment. And Spotify claims that podcast listening has increased, as every day for users now looks like the weekend.
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Is your business facing the possibility of going bust during these unfortunate times? How can you save your company from being shut down? Is Business Rescue the way to go, or will creditors lose patience? What about personal guarantees signed? In studio with Garry is Colin Strime of Fluxmans Attorneys.
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