Key lender to
Group, Britain’s fifth-biggest pub and restaurant group, which includes the
Bar Room Bar and Sri Thai chains, has sent in a
PricewaterhouseCoopers (PwC) restructuring
team, with the management’s blessing.
financed the £571m buyout of Orchid two years ago by private equity firm
GI Partners, has
recruited the accountancy firm to advise on the financial restructuring of the
group. PwC is understood also to have asked to be considered as administrator,
should it be necessary, The Times reports.
GI is reportedly paying for the review and has formally appointed the
accountancy firm, but PwC will report to both GI and the bank on the company’s
According to experts, the restructuring industry has been flooded with
mandates in the pub sector, and predict it will undergo a series of
administrations before Christmas as lenders get tough.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.