UK - Scotland Archives - The IFT


The UK’s largest Business Recovery Services (BRS) practice.

With almost a thousand staff in twenty-four offices, PricewaterhouseCoopers is the UK’s largest business recovery services (BRS) practice, providing advisory services to lenders, creditors, companies and individuals in troubled financial situations.

Colleagues in the firm pool knowledge from tax and assurance to advisory, ensuring clients are given the specialist situational knowledge needed to make the right decisions.

Lloyds Banking Group

Lloyds Banking Group has approximately 1 million business customers, of all shapes and sizes; from start-ups and small owner-managed businesses; through to large, multinational and quoted corporations. The Group’s purpose is to help Britain prosper and we want to help all our business customers to grow and fulfil their ambitions.


We recognise, however, that a business’s trajectory is rarely if ever uninterrupted growth and at different points in its life cycle there might be tougher periods that can test a business’s resilience or which might even place its very future in peril. In those moments, it is perhaps even more important that we are by the side of our business customers and our specialist Business Support Unit is on hand to support the turnaround of all viable businesses for the benefit of our customers, stakeholders and the wider community.


The Business Support Unit works closely with customers in financial difficulty to establish clear and timely turnaround strategies with the aim of returning customers to financial health. Our approach is clearly defined and we supported the development of the IFT Statement of Principles.


Our approach is empathetic and consensual, and we take each customer’s individual circumstances into account and deploy strategies that are bespoke to the individual business’s needs. Our team provide national and regional coverage, reflective of the businesses and communities we support. Our experienced team have built up sector expertise and we have also dedicated teams focused on particular sectors, such as Agriculture. We continually review and enhance our approach to supporting all our customers, to ensure we provide the optimum support for those in financial difficulty.


Where a turnaround is not possible, our team work with customers to explore alternative options and solutions. Insolvency is always considered only as the last resort. Where a business is not viable or an insolvency event occurs, our independent Recoveries team works with customers to agree repayment plans and a way forward.


We take pride and satisfaction in helping customers back onto a sounder financial footing and we have a strong record of supporting business turnaround, with 80% of businesses that come into the Business Support Unit either returning to the mainstream coverage team or refinancing elsewhere. At the heart of our ethos is the knowledge that when we achieve a successful outcome we are helping to preserve businesses and jobs and that this is in turn helps Britain to prosper.

Grant Thornton

Leading financial and business adviser

As a leading financial and business adviser Grant Thornton UK LLP has offices in thirty locations nationwide and more than 25,000 individual and 15,000 corporate and institutional clients.

It is a member firm within Grant Thornton International, one of the world’s leading international organisations of independently owned and managed accounting and consulting firms. Clients of member and correspondent firms can access the knowledge and experience of more than 2400 partners in over a hundred countries and consistently receive a distinctive, high quality and personalised service wherever they choose to do business.

On 1 July, 2007 Grant Thornton merged with RSM Robson Rhodes, establishing a new breed of financial advisory firm. This has created a specific niche, offering clients a new way of working, becoming a flexible, responsive business with the breadth and depth of skills to appeal to a variety of markets and the experience, knowledge and expertise to undertake highly specialised, sector-specific business.

Grant Thornton has always positioned itself as a market leader in terms of service and value and going forwards it pledges to continue to provide the best value advice the industry has to offer. Clients have access to senior staff, and are kept up-to-date with key business developments and news as it happens.
This is undoubtedly an exciting time for Grant Thornton and the company is investing in its business to ensure it maintains its position as the industry’s “thought leaders.” The infrastructure of the business is stronger than ever, both on national and international levels. It is large enough to take on the most demanding or specialist business, but operate in a flexible and responsive way which allows it to take on project work and offer bespoke services. Grant Thornton remains committed to advising the entrepreneurs and privately held businesses which are at the heart of the company’s offering.

Whatever the industry, the business furnishes experienced and expert staff committed to the success of each client’s work, always focusing on Grant Thornton’s working principle of adding value wherever possible.


Award-winning accountancy firm

The global accountancy and consulting market is principally made up of homogeneous international organisations and small-scaled local players. BDO is neither but offers the advantages of both. We offer the flexibility, expertise, closeness and personal service of a local organisation together with the quality, professional expertise, strength and reputation of a long-established international network. The best of both worlds.

BDO’s Business Restructuring team works with businesses that are facing financial and operational difficulties or potentially insolvency. Whenever possible, we will look to return a business to health and success. We will work with the management team and other stakeholders to identify the best possible outcome. We have a commercial approach to preserving value, finding efficiencies and improving business performance.

Our clients include companies and their directors, domestic and international banks, pension funds, private equity, alternative investment funds and government agencies.

Our team consists of over 200 staff across the UK. Internationally, we are a key member of the BDO global network that operates in 162 countries. Our partners have also spent time working in industry and in other jurisdictions. They have developed a strong understanding of business.

We cover a range of areas including;

• Corporate Insolvency
• Contentious Insolvency
• Restructuring Advisory
• Corporate Streamlining
• Pensions Advisory
• Special Situations M&A
• Personal Insolvency
• Operational Improvement & Effectiveness

The Business Restructuring team works closely with the Corporate Advisory Services team. The Corporate Advisory Services team works with corporates to drive improvements in liquidity, cash flow management and operational effectiveness.

DLA Piper

DLA Piper’s UK Restructuring group has over 40 restructuring lawyers across our national network of six offices: Birmingham, Leeds, London, Manchester and Sheffield.

Our knowledge, experience and resources serve a diverse client base encompassing debtor, lenders, government entities, private equity sponsors, trustees, shareholders, directors, and distressed debt and asset buyers and investors.

We manage assignments from the mid-market to the largest national and international restructurings and insolvencies and are experienced in managing all contentious issues arising from such cases. Our lawyers have significant experience of advising clients on investigation, enforcement, litigation and asset recovery on a multi-jurisdictional basis.

We advise clients across a wide range of industry sectors and have particular strength in energy, financial services, healthcare, hospitality and leisure, real estate, retail, sports, technology and transportation. We are proud of our long-standing relationships with the principal professional advisers in the market.

We have been recognized as ‘Legal Adviser of the Year’ at the 2018 Institute for Turnaround (IFT) Awards. We are proud that two of our clients, Hearts of Midlothian plc and Willerby were recognized by the IFT as well. In 2014 Hearts of Midlothian plc won ‘Listed Company Turnaround of the Year’ award and in 2017 Willerby Group won ‘Large Company Turnaround of the Year’ award.

DLA Piper’s Global Restructuring Group is one of the largest in the world, with more than 200 lawyers across the Americas, Asia Pacific, Europe and the Middle East.

Key contacts:

Leeds – Richard Obank,
London – Jonathan Richards,

FRP Advisory

FRP is a specialist business advisory firm with a strong reputation for providing solutions to create, preserve, and recover value across a range of complex situations commonly faced by businesses or individuals.  

With offices across England and Scotland, FRP provides a wide range of services, specialising in restructuring, forensics, corporate finance, debt advisory, and pensions. Our multi-disciplinary approach is integral to our success – we combine the skills of our experts to create value and develop effective strategies for all kinds of businesses, from multinational organisations to small enterprises.

Restructuring Advisory

Our strong team of restructuring advisory professionals provides advice and leadership through times of strategic change, and delivers tangible results for both businesses and individuals. With over 50 Partners and 300 staff across the UK, we have the experience and capability to handle restructuring and insolvency engagements of all sizes and complexities.

Our specialist team is focused on providing positive outcomes through comprehensive option reviews, and practical solutions to stabilise and return businesses to financial health. Our team have experience in adapting operating models to resolve pressure points and preserve long-term growth plans to deliver a clear direction.

For more information, please visit