The Small Company Administrative Rescue Process (SCARP) supports directors of SMEs in restructuring their respective companies in an efficient and cost-effective manner, thereby enabling them to continue to trade.
Facing insolvency is a challenging ordeal for any company.
SCARP was introduced to provide an affordable restructuring option to directors in the SME sector. It enables a company to come to a binding arrangement with creditors and right size their balance sheet in as little as 42 days.
Our SCARP experts offer clarity, guidance, and an efficient solution for SME businesses needing a financial restructure to provide them a fresh start and the platform for their business to return to prosperity.
Why Grant Thornton
Grant Thornton boasts a proven track record in successfully managing restructurings using the SCARP process, offering tailored solutions to ensure a positive outcome. We have provided advice to directors, companies, creditors and secured lenders across a wide range of industries.
Our experts provide invaluable support and guidance throughout the process, ensuring minimal interference whilst the process is ongoing.
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SCARP: Company and Director’s Perspective
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27 Sep 2023
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Small Administrative Rescue Process (SCARP): The Creditor’s Perspective
Small Company Administrative Rescue Process (SCARP) is a new restructuring process available to small- and medium-size enterprises (SMEs), and it is likely to negatively impact creditors in relation to funds outstanding as at the date the process commences.
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4 min read
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26 Sep 2023
Financial Services Advisory
Small Administrative Rescue Process (SCARP): Is It the Cheaper, Quicker and More Efficient Restructuring Process for SME’s?
The Government introduced the Small Company Administrative Rescue Process (SCARP) to provide a restructuring option to SMEs similar to the examinership process; however, SCARP is quicker, more cost-effective and does not require the close oversight of the Court. It is an accessible restructuring option for SMEs, proving successful thus far with more than 70% of cases in 2022 having been approved by creditors.
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25 Sep 2023
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