Retail restructuring expert joins Smith & Williamson

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.’

Further reading:

Time for change in insolvency

BDO appoints restructuring

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