More firms could save costs, say Baker Tilly

YORKSHIRE businesses could be doing more to streamline their companies and subsidiaries, according to Baker Tilly.

The warning comes a week before the accountant publishes its review of the restructuring market place.

The findings show that 30% of respondents in the region had engaged in a restructuring process over the last three years against a UK-wide average of more than 40%.

And ahead of first quarter insolvency statistics to be reported next month, Baker Tilly also warns of corporate insolvencies that are expected to have risen by more than 50% against last year’s first quarter and by double digits against the previous quarter.

Meanwhile, the firm has announced two significant appointments to its West Yorkshire and North region practices as the firm continues to grow its restructuring and recovery team.

From within the firm, partner Phil Pierce becomes head of corporate restructuring for the North region.

Brian Tyrrell joins the wider restructuring and recovery department in Leeds as an associate director. Previouslt he spent 20 years with Robson Rhodes before its merger into Grant Thornton in 2008.

Mr Pierce said:”Today’s announcements mark the development of our restructuring and recovery department across the North region.”