Smith & Williamson has appointed retail expert Barry Knight into its restructuring division, as it looks to win work following fallout from the credit crunch.
Knight, who has worked for 18 years in retail restructuring including stints at Littlewoods, Burtons, Selfridges and Mytravel, said retail had inefficiencies masked by a benign economy, but the credit crunch, falling house prices and inflation in supplier countries would see retailers face 'testing issues'.
'The retail sector has been operating in a benign environment for some years and this has masked inefficiencies,' said Knight.
'There are many retail businesses who are fundamentally sound and can be turned around. It is a question of facing up to and addressing the issues at an early stage.'
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