According to Institute for Turnaround experts, the UK economy may not hit bottom for two or three quarters. Speakers at the Institute for Turnaround national conference on Thursday September 11 in London will predict that businesses are at a very early stage in the turnaround cycle but the pent-up demand for experienced restructuring professionals will be, ‘huge.’
• The UK is on the verge of a new era of debt-for-equity and there is a significant increase in lenders taking ownership of companies, according to panellists who will debate the issues underlying ‘loan-to-own.’
• Liquidity will remain scarce, but one market open for business to turnaround will be the comprehensive and asset-based lenders (ABL’s) though ABL’s may seek super-priority status for their debts.
• Turnaround executives will need to know the difference between an Ostrich, a Spartacus, an Interpreter, a Potentate and other recurring management types that can impede or assist company turnaround
• Instant communications, increasingly specialised management and ‘corporate memory loss’ can ‘kybosh turnaround’
• Re-financing businesses out of trouble is not an option, so now is the time, ‘to fix them properly – the early reformers are more likely to survive’
• City Hall’s new policy and economics chief will explain ‘how Boris will turnaround London’
• Treasury Shadow Economic Minister Justine Greening sets out David Cameron’s plans to make the UK competitive and keep businesses out of insolvency
For further information and pre or post conference interviews, contact:
Christine Elliott, Chief Executive email@example.com
Out of hours emails: firstname.lastname@example.org
Telephone – 020 7324 6219; Mobile – 07812 370121
Emma Taylor, Marketing Services Executive – 020 7324 6217
1. The Institute for Turnaround (IFT) is Europe’s leading professional body for the whole Turnaround Community. IFT was founded in 2000 as The Society of Turnaround Professionals. We have a membership of rigorously accredited turnaround executives and advisers, with corporate partners representing the best in law, accountancy, corporate banking and finance, private equity and other turnaround experts.
2. National Conference Theme 2008: ‘TURNAROUND! It’s a Perfect Storm’
In October 1991, reports about unprecedented set of weather circumstances in the North Atlantic were greeted with disbelief and denial - reactions familiar in company turnaround. The conflagration turned into an epic ‘perfect storm’ that raged for six days. This year, the international credit crunch, oil shock and housing crisis foreshadow a predicted stormy autumn and bleak prognosis for the real economy.
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