Grant Thornton Australia

The Small Business Restructure (SBR) regime came into force at the beginning of 2021 as a cost-effective method for distressed businesses to reorganise and negotiate businesses debts up to $1m. While this restructuring tool was underutilised during the COVID-19 pandemic, there’s recently been an increase in the adoption of SBRs as a restructuring tool by distressed businesses. So, what’s the reason for this recent uptick, and how can small businesses under pressure start the process?