In anticipation of an expected rise in the number of businesses struggling
with heavy debt loads, Big Four firm Deloitte has launched a corporate
restructuring service with London-based consultants Aaronite Partners.
This follows a series of strong economic figures from the euro zone which
have increased speculation that interest rates will rise in coming months after
years in which companies have enjoyed access to cheap credit.
Iain Lynam, co-owner and manager of Aaronite, said he expected to see an
increase in the number of distressed businesses as rising interest rates lifted
Aaronite’s team includes co-partner Mike Grant who has held senior positions
at Railtrack and Eurotunnel both of which have gone through either bankruptcies
or debt restructuring situations.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children