Welcome to the winter edition of our Restructuring & Insolvency bulletin – our first of 2019.
Just a few weeks into the New Year and news of the woes facing the UK’s embattled high street continues to flow thick and fast. HMV and Patisserie Valerie have each recently fallen into administration. The Centre for Retail Research is forecasting more retail redundancies this year on top of those suffered by the collapse of Toys R Us, Poundworld and Maplin Electronics in 2018. M&S, Halfords and Debenhams were among those reporting disappointing sales figures amid the worst Christmas in a decade for UK retailers. Landlords are said to be bracing themselves for a wave of store closures in 2019. Little wonder then that we are predicting more CVAs ahead in one of our feature articles in this bulletin – please see more below.
The UK’s car industry isn’t doing too well either, having been rocked by recent news of Jaguar Land Rover job losses, restructuring initiatives at Ford and temporary factory closures at Honda prompted by something called “Brexit”. These are challenging times then and we can expect 2019 to be a very busy one for restructuring and insolvency specialists.
Over the next 12 months we will be keeping an eye out for some of the key legal developments in the UK’s restructuring and insolvency space. Three more of these bulletins will follow, together with regular alerts on our Website in between. But beyond those stories which we flag up ourselves, if you are looking at any R&I situations and would welcome our insights on potential solutions, do get in touch.
Finally, please don’t forget our sister publication that we produce for our Banking & Finance clients. Click here to read more.