Restructuring Industry Prepares for Explosive Growth as More Businesses Call in Turnaround Expertise
Restructur Advisors announces plans for 2021: Continued expansion of its team, strategic collaborations, and closer ties to capital
VANCOUVER, BC / ACCESSWIRE / January 13, 2021 / Restructur Advisors, a turnaround and restructuring advisory firm currently focused on Western Canada, with operational and restructuring experience in a variety of industry sectors, today announced its plans for 2021 as restructuring firms prepare for what is widely expected to be an onslaught of bankruptcy filings and restructuring proposals in the first three quarters of 2021.
"Even the most resilient small and medium enterprises have had to wrestle with the commercial effects of this pandemic," states Blair Jordan, one of Restructur's four founding partners, "but in early 2021 as government support dries up and companies emerge from wide-scale economic shutdown, many are facing substantially reduced revenues and profitability or levels of debt which may make their capital structures unsustainable."
Indeed, there is broad consensus among most industry analysts that furlough schemes, lenient lenders, and rampant government support has not resulted in eliminating the need for eventual commercial restructuring but simply postponed it. "Government support initiatives have delayed the wave of restructuring and bankruptcy filings anticipated when the pandemic hit in March but as those relief measures begin to drop off, companies or in some cases their investors and creditors, are beginning to realize that their balance sheets will not hold up and they will need to restructure to be successful going forward," stated Rob Hill, veteran CFO and founding partner at Restructur Advisors.
In announcing its plans for 2021, Restructur Advisors also announced the addition of Jim Scott, as a Senior Advisor. His extensive experience in the aviation and logistics sectors, both expected to undergo significant restructuring in the months ahead as the industries right-size to revised projections and commercial realities, is highly sought after by companies world-wide.
Additionally, Jim brings experience with multi-stakeholder (including labor and creditor) negotiations and government relations - both critical skill sets in many restructuring initiatives.
"With the aviation sector being hit particularly hard by the COVID-19 pandemic, I look forward to applying my deep leadership and operational experience to help restructure companies in the sector whether those are airlines, airports, or companies in related service industries," commented Mr. Scott. "In addition, I am keen to bring my stakeholder negotiation and government relations experience to bear in helping Restructur's clients as needed."
Read more here: https://finance.yahoo.com/news/restructuring-industry-prepares-explosive-growth-120000266.html