Farm rescues on the rise
Although there are no reliable statistics on the number of farming entities entering business rescue, there is anecdotal evidence of a steady increase since 2020 – first due to the Covid-19 pandemic, and now due to geopolitical and climate risks.
Among the reasons so many farm rescues fail is the inability to find post-commencement finance, waiting too long before applying for business rescue, and delays in approval from the competition authorities.
Once the business is in financial distress the ideal would be to find a business rescue practitioner with experience in the farming industry.
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