Thousands of Small and Medium Sized (SMEs) enterprises will go into liquidation after COVID-19 lockdown

SAfm — Industry experts have warned thousands of Small and Medium Sized (SMEs) enterprises will go into liquidation after COVID-19 lockdown because they cannot afford the cost of a Business Rescue Practitioner. Prof Markus Pretorius a business recue analyst says the fees to hire a rescue practitioner can go up to 150-thousand Rands. He has also warned that 95 percent of businesses that will apply for Business Recue will not survive. Last week, SARS commissioner Edward Kieswetter said they had seen an increase in companies applying for Business Recue.