Creditors and management of distressed companies are being advised to call in administrators early to enhance chances of reviving the businesses.

Insolvency practitioners want firms facing challenges to not leave it until late to turn to administrators since this could be a recipe for liquidation as opposed to resuscitating operations. Mr Julius Ngonga, Ernst & Young partner in charge of – East Africa transaction advisory services and infrastructure, says it is unfortunate that many companies wait until the problem is almost insurmountable.

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