Latest news with #SmallCompaniesAdministrativeRescueProcess
Irish Examiner
25-06-2025
- Business
- Irish Examiner
New SCARP process eases popular restaurant's post-Covid recovery
Big Mike's, a seafood-focused restaurant located in Blackrock, Co Dublin, underwent formal restructuring in 2025 through Ireland's Small Companies Administrative Rescue Process (SCARP). The process, introduced in 2021, is designed to support small and micro businesses facing short-term financial pressure by enabling them to reorganise outside of the courts. The restaurant is part of the Michael's group, founded by chef and restaurateur Gaz Smith. Delays related to the pandemic meant Big Mike's opened later than planned, and fit-out costs exceeded original estimates. Despite strong customer demand, the business encountered ongoing cash flow pressure as a result of rising input costs and residual liabilities from the build. Smith publicly acknowledged the situation, noting, 'I put everything into Big Mike's. Even my house deposit.' Rather than allow conditions to deteriorate further, management appointed a process adviser and initiated the SCARP process. The goal was to restructure debt, stabilise operations and protect employment. SCARP was selected over examinership due to its suitability for smaller businesses. It avoids court proceedings in most cases and is completed within a seven-week statutory period. According to Barbara Galvin, partner at William Fry, the process is underutilised but well-suited to companies like Big Mike's. 'SCARP is for businesses that are in trouble but still have something worth saving,' she says. 'It is not a wind-down mechanism. It is about early action and recovery.' Under the process, an insolvency practitioner reviews the company's position, prepares a plan, and presents it to creditors for approval. If sufficient support is secured, the plan proceeds without the need for court involvement. At Big Mike's, this was achieved with minimal disruption. Key to the outcome was the business's proactive engagement with stakeholders. Smith communicated openly with suppliers, staff and customers throughout, which helped maintain relationships and facilitate agreement on the restructuring plan. 'He was open with people from the beginning,' Galvin says. 'That transparency helped maintain relationships and made it easier to secure support for the plan.' Following creditor approval, the plan was implemented, and Big Mike's exited the process while remaining fully operational. No court hearing was required. The restaurant retained staff and continued to serve its customer base without interruption. 'This is a clear example of SCARP working as intended,' Galvin says. 'It was a viable business, but overextended. The process allowed it to restructure and recover.' The case highlights the importance of early action, clear communication and appropriate legal frameworks. Management acted before the situation became unmanageable, allowing for a structured solution. Suppliers and creditors supported the process in the belief that the business could succeed long-term. Despite SCARP's proven utility, uptake has been limited. Galvin attributes this to cultural hesitation and a lack of awareness. 'There is still a stigma around business rescue in Ireland,' she says. 'But SCARP is a practical tool. It allows businesses to survive financial shocks without entering costly and complex legal proceedings.' Big Mike's is one of a small but growing number of companies to use SCARP effectively. The case demonstrates that with timely decision-making and professional support, small firms can manage financial challenges without resorting to liquidation. 'If you wait too long, there may be nothing left to save,' Galvin says. 'SCARP only works if the fundamentals are still intact.' The experience at Big Mike's underscores the value of structured rescue frameworks and provides a real-world example of what successful business recovery can look like in practice. Key Lessons from Big Mike's: Act early: Management initiated the process before operations became unsustainable. Early engagement was essential. Communicate Clearly: Smith's transparent communication helped preserve confidence among staff, customers and creditors. Use the right framework: SCARP was more suitable than examinership, given the size of the company and the time-sensitive nature of the issue. Stakeholder support is critical: Continued supplier cooperation and creditor agreement enabled a smooth resolution.
Irish Examiner
16-06-2025
- Entertainment
- Irish Examiner
Beyond The Pale festival: Talking points from a fine weekend that almost didn't happen
The fourth edition of Beyond the Pale took place in Glendalough Estate, Co Wicklow, over the weekend. The week preceding it was full of drama rather than excitement though as organisers were forced to come out with a detailed statement that it was not cancelled. 'A festival needs significant cashflow over the festival month. It's a huge challenge for all festivals in their first few years, and this week, an essential piece of expected finance that would have helped us through the period fell through,' said the organisers. The Currency reported on the morning of Beyond the Pale that it had entered the Small Companies Administrative Rescue Process (Scarp) in an attempt to restructure its balance sheet and ensure its survival in the long term. Nearly 10,000 tickets were sold for the event and amid rumours and trepidation, things went off without a hitch (mostly), much to the relief of organisers. It draws an interesting crowd, a healthy mix of young and old, for a lineup that, like an increasing amount of festivals, is leaning heavier on the dance side. Headliners include Mercury Prize-winning London jazz act Ezra Collective, Wicklow's own Roisin Murphy, and US indie rock royalty TV on the Radio, but below them you had house producer Berlioz, the Saturday night b2b (back to back) of Dave Clarke, Jeff Mills, and Al Gibbs, and rounding things out on Sunday night was Gen-Z fave Marc Rebillet. A general view of Beyond the Pale 2025. Added to that was the Cirrus Gardens stage with DJs from open to close (Todd Terje, Krystal Klear, and Zero 7 all starred there over the weekend), and the picturesque Cupra Pulse area, where an incessant techno 'thwomp thwomp thwomp' could be heard throughout the day. There's a verité aspect to the third stage, Strawberry Fields, which featured a DJ set from Trainspotting author Irvine Welsh, cabaret, a Church of Brat (Charli XCX plays a long-sold-out Malahide Castle on Tuesday), and Irish comedy duo the Wild Geeze. On Sunday evening, Irish dance act HousePlants, led by Bell X1's Paul Noonan, pay tribute to the site workers, for their hard work dealing with the rain over the weekend. The forecast was bad, there was a lot of mud, but Irish punters are accustomed to such conditions. Wellies and hiking boots did the job, though kudos to the barefoot hippies and groups playing dress up who just got on with things. Things are tough in 2025 for independent festivals - hopefully Beyond the Pale continues into next year and beyond. Beyond the Pale highlights Ezra Collective Ezra Collective bassist TJ Koleoso surprises punters at Beyond The Pale by heading into the crowd. Mercury Prize-winning London jazz quintet Ezra Collective get the party vibes going on Friday evening, with an intro video featuring a football-style team talk led by Arsenal legend Ian Wright (bandleader Femi Koleoso is a big Gunners fan). Things don't let up for the next 80 minutes as even though they're instrumental, they leave fans giddy and pulsing. After the second song, Koleoso grabs the mic and implores everyone to turn around, say hello to a complete stranger, and give them a hug. It's oddly affecting and sets the tone for the rest of the weekend - good vibes only. It's their fourth time in Ireland and as usual, the two horn players, Ife Ogunjobi and James Mollison, who look like they're having as much fun as anyone, make their way into the crowd, soon joined by bassist TJ Koleoso. We're all part of Ezra Collective now. Sofia Kourtesis Peruvian producer Sofia Kourtesis has a lot more fun onstage than her records might suggest. She offers dance instructions, tells us she's going to college and working on her English, and throws some of her merch into the crowd. The only pity is it's all taking place in mid-afternoon; she'd be incredible in a dark tent after midnight. It feels like an inspired decision, though, as the sun makes its first appearance of the weekend halfway through her set. So much so that we're worried about not packing suncream. But by the last track, the worst deluge of the festival hits. As Kourtesis exits, so does the main stage crowd, in search of any bit of cover. Halina Rice The unexpected winner of the weekend - and from the rain - is London producer Halina Rice, who plays shortly after the aforementioned deluge on Saturday afternoon. The tent is packed early and ready to party and Rice delivers, with a heavy techno set with mesmerising visuals. She says she creates AV shows and installations in which to envelop her audience, frequently incorporating immersive technologies such as spatial audio, 360 visuals, and metaverse environments. Despite a technical hiccup, the crowd are on her side and having the time of their lives. Broken Social Scene Canadian indie rock royalty Broken Social Scene are playing their first Irish show in seven years. The definition of a democratic band, nominal frontman Kevin Drew begins proceedings by announcing he got engaged in Ireland earlier in the week. He acknowledges Beyond the Pale's financial troubles, saying that even if the gig wasn't going to happen, they would be here playing someone's back garden. 'We're not here to let you down, we're here to pick you up,' he adds, before Broken Social Scene play an hour of beloved greatest hits spanning their 25-year career. They open with Cause = Time and 7/4 Shoreline, tracks from the early to mid Noughties that have lost none of their collective power. The band mutates from four members to six to double figures, with Drew running offstage for one track, and it looks like they're loving every minute of it. Drew introduces their most enigmatic song, Anthems for a Seventeen-Year-Old Girl, by dedicating it to the trans community, who he says took the track and made it into their own anthem. They bring on two women to add vocals to one of the most beautiful moments of the festival. TV on the Radio TV on the Radio during their headline slot at Beyond the Pale 2025. beyond the pale des Brooklyn's TV on the Radio came up in similar blog-rock circles (er, ask your dad) to Broken Social Scene and their Sunday headline slot at Beyond the Pale is their first appearance in Ireland in 17 years. That period includes a hiatus, and though Dave Sitek is still a member of the band, he's not touring with them currently. A six piece led by core members Tunde Adebimpi (who put out a great solo album, Thee Black Boltz, earlier this year - Kyp Malone and Jaleel Bunton, the likes of Golden Age and Happy Idiot sound triumphant, while they dedicate Love Dog to the people of Palestine, saying it's a fuck you to global fascism; it's notable that Malone wears a keffiyeh and has a Palestinian sticker on his guitar. TV on the Radio wear their heart on their sleeve and are all the better for it. Moment of the weekend Samantha Mumba on the main stage at Beyond the Pale, her very first festival performance. Samantha Mumba announces during her Sunday afternoon set that Beyond the Pale is her very first festival. She's down on the bill as playing an hour-long set, though it's only about half that, and with a cover of Lykke Li's I Follow Rivers ('what song do I wish I had written') thrown in for good measure, it's a mixed bag. Her hits date to the late 90s, early noughties, and she was in the news earlier this year as she sought a slot at Eurovision. It's all a bit karaoke, but during Always Come Back to your Love, she brings out her daughter who throws some great dance moves. It's such a lovely moment - enough to melt the heart of even the most cynical of music critics.
