Examinership saves 959 jobs in 2012

Nearly 1000 jobs at small firms were saved through the examinership process this year.

This figure represents a year on year increase of 67 per cent on 2011, during which 574 jobs were saved, according to accoutnacy firm Hughes Blakes which conducted the research.

The figures come as new legislation is set to be passed by the Government which will allow SME's to apply directly to the Circuit Court for examinership.

Hughes Blake said the new provision in the Companies Bill could cut the legal costs of examinership by up to 50 per cent, making the process a more accessible and affordable option for SMEs and potentially doubling the number of jobs that could be saved in 2013.

Today's figures reiterate once again the significant role the examinership process can play in saving jobs when companies find themselves in difficulty, Neil Hughes, managing partner of Hughes Blake said.

"However these figures are just the tip of the iceberg and there is no reason why we shouldn’t see a dramatic rise in these numbers once the new legislation has been enacted."