Begbies offers to help banks with problem clients

INSOLVENCY firm Begbies Traynor is to launch a specialist service to help banks and other lenders on troubled businesses or assets in the region.

The new North West Banking & Restructuring team will be headed by experienced partner Gary Lee and will operate under the BTG Restructuring unit.

“We have seen a rise in demand for strategic turnaround services and with BTG Restructuring we can deliver integrated financial and operational restructuring services to businesses in distress,” said Lee.

“Preserving value and, whenever possible, getting a business back on its feet often involves a broad spectrum of disciplines.

“We have the expertise to identify what isn’t working and thereafter develop and implement an appropriate action plan that fixes the underlying issues under one roof:  whether the situation calls for a thorough and independent business review or the development of a comprehensive turnaround plan.”

Ric Traynor, executive chairman of Manchester-based Begbies Traynor, said: “There is a real appetite amongst North West banks and businesses for this level of advice and with BTG Restructuring we remain committed to taking a hands-on approach to restructuring projects.”