Free advice to Hull firms could save jobs

BUSINESS owners in Hull, who are facing tough decisions about the future of their company are being offered the opportunity to access free advice from KPMG and law firm Rollits.

The opportunity is part of the ‘Grow’ initiative managed by the area’s economic development organisation Probe (Hull).

Firms with up to 250 employees, which are considering making redundancies due to cost pressures, are being encouraged to contact Probe to see if advisors from restructuring professionals within the two professional services firms could provide alternative solutions to their problems.

Donna Jackson, contract manager at Probe, said: “This is a unique opportunity for businesses in the Hull area to access free specialist support from KPMG or Rollits in order to minimise job losses in the city.”

Mark Firmin, KPMG’s Northern head of restructuring, said: “The economy may be starting to pick up but many businesses continue to face tough times without sales growth, resulting in a cash squeeze.

“Others risk overstretching their cash in an effort to exploit an upturn in demand. We help companies across the region to manage their costs and working capital, to deliver improvements to cash flow, profit and loss and the balance sheet.”

Mr Firmin said that a striking theme in its turnaround work was that seeking advice early keeps more options open to management teams.

“This initiative enables Hull businesses to do just that – to see if our experience and input can enable them to achieve their business objectives without resorting to job cuts,” he added.

Donna Ingleby, partner and employment specialist at Rollits, said: “In today’s economic environment it is important for businesses to seek creative solutions when looking for alternatives to maintain staff and retain skills and that is where the ‘Grow’ initiative can help.”