The headlines are ringing true, and its scary. Business closures on the rise in Ireland 2024

So what does the picture look like for for business owners in Ireland 2024?

The year has just begun and already numerous news articles are awash with headlines reading Carnage’ As 280 Restaurants And Cafés Close In Six Months by an article in Business plus earlier this year READ HERE

The year 2023 started early with the alarming articles, and Irish Mirror is one for such an article in March of the same year, which you can read here and towards late 2023 we were also hit with the same news articles such as “Soaring costs behind sharp increase in Irish businesses closing in 2023” Irish times read here/DEAL CHASERS (Innovative Business Brokers) recently had an article on whether there are solutions to simply shutting shop, and avoiding huge losses. Read the article here Sometimes there is a daunting dark shadow hanging over us when dealing with a business closure and perhaps we panic and don’t see any solutions, but selling your lease and equipment can bring is some relive to the closure. We have numerous new food concept entrants looking at expanding a national or international brand, and being part of franchise network the closure risk is far less, so selling your lease to new brand entrants who are always on the prowl for new outlets is a great solution. After all, they have deeper pockets and can ride out turbulent times.Scrumdiddly’s ice-cream gets €250,000 cash from investors to help guide it out of Scarp. Although Scrumdiddly’s ice cream business had racked up debts, it was able to find a rescue solution with investors acquiring 75% of the business. These are the type of solutions possibly available to the urgent seller who is contemplating closure. Go to the article here Mergers and/or acquisitions are therefore an option on mitigating some of your losses, perhaps a new brand with a new identity can be the rescue. They can put in capital expenditure, do a mini refit to absorb the new brand identity and you retain a share of (suggest) 25% with perhaps even a management position to be negotiated. Acquisitions are typically structured as purchases. One company or business entity purchases another company’s (or businesses) assets or ownership units to gain control, and again here, so form of shareholding could be negotiated with a pre-agreed lump sum.Scrumdiddly’s ice-cream gets €250,000 cash from investors to help guide it out of Scarp. Although Scrumdiddly’s ice cream business had racked up debts, it was able to find a rescue solution with investors acquiring 75% of the business. These are the type of solutions possibly available to the urgent seller who is contemplating closure. Go to the article here

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