Oireachtas Joint and Select Committees

Wednesday, 8 May 2024

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Small Companies Administrative Rescue Process: Discussion

Photo of Louise O'ReillyLouise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source

It would be very useful information to have. I will not labour the point.

I have one more question, which relates to employee-owned businesses or workers’ co-ops, depending on how you want to phrase it. Right across Europe, the European Union and Britain, EOBs or workers’ co-ops offer a solution to businesses and companies that are in trouble, particularly financial trouble. The EOBs have been found to be more productive, more resilient and to provide greater benefits.

It is just an extra option when a company is in financial distress. Do the witnesses believe that if we strengthen the position of employee-owned businesses and workers' co-operatives, it would create another avenue for companies in financial distress to get back to viability, rather than see them go down the road of insolvency?

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