Business rescue grows in relevance as SA practitioners increase
Since the introduction of business rescue to SA law in 2011 a constant stream of BRPs has been licensed each year. About 56% of BRPs are classed as junior practitioners, 22% are considered experienced and the remainder as senior. The time has come for boards to have an awareness of the restructuring options available so that directors are more comfortable with obtaining guidance at an early stage of the financial distress cycle – still a major reason for failures.