BBRS enters liquidation: what a failed banking redress scheme means for SME cash flow and your debtor book

Welcome to Debt Matters, the UK podcast where we turn business news into practical credit-control and debt-collection moves. Today we’re talking about the Business Banking Resolution Service, or BBRS, which has entered voluntary liquidation.

What happene BBRS was set up in 2021 to help small firms resolve disputes with banks after past lending scandals especially businesses that felt stuck between the Financial Ombudsman and expensive court action.

But it faced sustained criticism for being too narrow, too slow, and not delivering meaningful redress. The Times reports that only 47 claimants received awards through BBRS’s formal adjudication process. ...