Phil MeekinView Profile
The Top 100 companies are success stories – unlikely to need the services of the insolvency profession in the near future.
They are well managed companies which invest well. They are also benefiting from the confidence in the economy which continues to grow as we leave recession behind.
Insolvency statistics clearly illustrate that the number of Liquidations, Administrations and other insolvency procedures are falling back to pre-recession levels. Many of the weaker businesses will not have survived the last few years. Those which remain are still confronting unexpected events. This changing in their trading environments, may have had devastating effects on their cash flow and finances.
So where will that leave insolvency specialists?
Providing a safety net – helping businesses which stumble or falter to pick themselves up. There is likely to be a greater focus on support and turnaround. This may involve introducing investors, restructuring finances and generally formulating a strategy to survive and get the business back on course to return to profitable trading.