Credit Strategy were joined by Phil Reynolds, Restructuring Advisory in our latest 60 second interview
Q: What kind of work/cases have you been working on since lockdown?
A variety of cases, with a focus on preserving and recovering value across a mix of sectors adversely impacted by the pandemic. This includes leisure and other related businesses, such as casual dining. I’m also dealing with some of the fall-out from the Arcadia administration.
Q: When do you think we’ll start to see an increase in corporate insolvencies?
It’s likely that we may begin to see an increase in corporate insolvencies towards the end of Q1 2021, however, this is subject to HRMC’s position in particular given the ongoing changes in preferential status.
Q: What advice would you give to the next generation of people working in either turnaround, restructuring or insolvency?
The likely transition to a virtual mode of working, at least in part, means the next generation will need to be more proactive to ensure that they are involved in meetings to allow them to gain experience. They’ll also need to be more creative in business development and building their network.
Q: What do you think is the biggest challenge, or issue, for those working to rescue businesses?
Ongoing uncertainty is the primary challenge that restructuring professionals are currently facing. The more certain the environment, and the future landscape, the easier it is to deliver an effective solution.
Q: Without giving too much away, what do you hope delegates will learn from your session at the TRI Conference?
An interesting, first-hand perspective on the challenges faced during the Spring lock-down for two well-known businesses, Debenhams and Carluccio’s, including the successful implementation of a ‘light-touch’ administration for Debenhams.
Q: What other sessions are you looking forward to at this year’s TRI Conference?
I am most looking forward to the Economic update. I hope that it will help me to address the uncertainty challenge raised in question four!
Connect with corporate M&A practitioners, funders, turnaround specialists and dealmakers
Listen to the expert’s opinions, learn about case studies, and gain a comprehensive view of the market
Gain insight into the current industry climate and learn what to expect in the coming months
What does the
current European macro-economic outlook
for Europe mean for your business?
Which sectors will provide
the biggest opportunities
over the next 12 months?
What has been the key to
the most successful turnarounds
of the last few years, and what can we learn from the failures?
Present your brand to senior decision makers in the insolvency industry
Cement your company’s position at the forefront, head and shoulders above your competition
Make connections with investors, turnaround practitioners and financiers