R3 calls for ‘Business Rescue Moratorium’
Amidst the latest high profile retail collapses – including BHS and Austin Reed – insolvency trade body R3 is calling on the government to offer struggling companies a period of up to six weeks free from creditor pressure to plan a recovery or rescue. Introducing a ‘business rescue moratorium’ would help save more companies under severe financial strain, preserving more jobs and improving returns for creditors.
R3 are of the opinion that it is crucial that the moratorium period is kept short in order to ensure that the Company focuses on dealing with its financial problems as swiftly as possible.
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