0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 1 free articles

We’ve made wider, important changes to our print and online content to enhance the value of exclusive, insightful, discerning content we create every day. Support valuable editorial content by becoming a member of our Credit Club - register for free or choose a paid plan.

Register now or Login

TRI Awards entrants save over 18,000 jobs

Entrants to the 2017 Turnaround, Restructuring and Insolvency (TRI) Awards, sponsored by Capa, saved more than 18,000 jobs last year by rescuing distressed companies of various sizes.

The companies that entered the 2017 TRI Awards, which marked a decade last year, include in their applications details about how they used various tools to rescue failing businesses – and how they saved jobs as a result.


Having crunched the numbers from every entry, Shard Financial Media has discovered that the TRI Awards entrants saved a total of 18,913 jobs in the past year.


Such a high number comes from the fact that every entrant, where relevant, was asked in the entry criteria to provide statistics on how many jobs have been saved through a mix of solvent turnarounds, corporate restructuring methods and formal insolvency processes.


Entrants therefore included numbers of jobs safeguarded via pre-packs, CVAs and administrations, as well as various types of solvent restructurings.


The high figure also includes jobs that have been saved on an international basis, where insolvency practitioners (IPs) and turnaround professionals were called into find solutions for struggling multinational companies that employed thousands of staff.


As well as IPs and turnaround practitioners, the total figure also includes jobs that were effectively saved by investors, commercial finance lenders, barristers and legal firms, that all helped to safeguard jobs either by providing funding to firms, or through their use of insolvency law to aid business rescue.


Held the same day last October as the inaugural TRI Conference: Special Situations and Turnaround, the awards celebrated the outstanding firms, teams and individuals in their respective fields of turnaround, funding, corporate restructuring, insolvency and personal debt advice.


For 10 years the awards programme has highlighted those responsible for outstanding work in the field of business recovery, who have shown skill, innovation and know-how while restoring companies to a sustainable position.


During the night guests from across the industry raised more than £20,000 for Childline, a free 24-hour counselling service for children and young people in the UK.


See the full winners list here.



Gold bullion dealer Stunt bankrupt after building up £14m debt

Gold bullion dealer Stunt bankrupt after building up £14m debt

Arcadia Group creditors approve CVA

Arcadia Group creditors approve CVA

FCA rules for buy-now-pay-later products could save customers up to £60m

FCA rules for buy-now-pay-later products could save customers up to £60m

Upcoming events

Car Finance Conference

Car Finance Awards

Collections & Vulnerability Summit

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group