The IFT Quarterly Update: continued strong demand for turnaround support as businesses struggle with debt costs - The IFT

The IFT Quarterly Update: continued strong demand for turnaround support as businesses struggle with debt costs

The IFT’s quarterly update looking at turnaround and restructuring activity across sectors shows continued demand for turnaround support at the start of 2024, with 50% of The IFT’s partner firms surveyed seeing an increase in activity in Q1 2024, with the rest seeing about the same level of activity as the end of 2023.  The busiest sectors for turnaround and restructuring activity in the quarter were real estate and construction. The costs of servicing debt was the most common reason IFT partners saw for businesses experiencing distress, overtaking inflationary pressures which had been the most common factor at the end of 2023.

According to data from FRP Advisory, whilst Quarter 1 2024 saw a lower level of insolvencies than the previous quarter, there was a 2.1% increase in the number of businesses experiencing distress compared to Q4 2023. This may indicate businesses increasingly struggling with levels of debt and costs pressures after a number of difficult years, with often a need for turnaround support to help address these issues and maximise improvement.

As we move through 2024 we will have a greater sense of the degree to which businesses are able to utilise such support and avoid insolvency.

The full update can be found here: Quarterly Review Q1 2024 FINAL

With thanks to FRP Advisory and our partners who contributed to this update.

Related News

VIEW ALL

You can read our latest edition of Swift here. This includes updates on our recent conferences and insights from our members and partners.

READ MORE

NEXT EVENT - 18.06.2024

Join us on 18th June17 on 6pm at Gateley, Manchester for our regional summer social! This event is reserved for IFT members, corporate partners, and IFT Next.

FIND OUT MORE

UPCOMING EVENTS

VIEW ALL
  • Date: 20.06.2024
  • Name: IFT Webinar – Alt-nets with Teneo

Join us on 20th June for a webinar on Alt-nets with Teneo's Ashok Patel, Rebecca Leeser and Stuart Keeping.

FIND OUT MORE
  • Date: 25.06.2024
  • Name: Women in Turnaround Exclusive Dinner with Svana Gisla

FIND OUT MORE
  • Date: 26.06.2024
  • Name: IFT Webinar: Turning Round a Property Portfolio

Join us on 26th June for our webinar on turning round a property portfolio in partnership with Gateley!

FIND OUT MORE
  • Date: 04.07.2024
  • Name: IFT Next West & Wales Summer Social

Join us on 4th July at 4pm in Bristol for our IFT Next Summer Social!

FIND OUT MORE
  • Date: 11.07.2024
  • Name: London & South Summer Drinks Reception

Join us on 11th July on 6pm at Teneo, London for our regional summer social!

FIND OUT MORE
  • Date: 18.07.2024
  • Name: IFT Next London and South: Turnarounders at Hyde Park

Join us on 18th July for a rounders game social at Hyde Park!

FIND OUT MORE
  • Date: 13.09.2024
  • Name: National Conference 2024

Join us on 13th September for our annual National Conference in London! Please email info@the-ift.com to purchase a ticket. Please note that tickets are non-refundable two weeks prior to the event.

FIND OUT MORE
  • Date: 17.10.2024
  • Name: IFT Annual Awards 2024

Ticket sales and submissions are now open for The IFT Annual Awards 2024! This year's ceremony will take place on Thursday 17th October at Pan Pacific London. Join us to celebrate turnaround excellence at the leading

FIND OUT MORE