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Griffins Insolvency Practitioners

Dean Gambles and Co. offer far more than the usual agency services. We are at the centre of a network of specialised, expert professional services that existing and new clients can call on for support, advice and solutions.

To coin a well-worn phrase, these are unprecedented times and the leisure and hospitality industry is one of the sectors that has been hit hardest by Covid-19. Even with the hope that lockdown measures will ease in the near future and lead to the industry rebooting, at Griffins we know that social distancing has changed landscape for the foreseeable future and business owners will face massive uncertainty and a raft of new, unforeseen challenges. As a result, many of you will be contacting your advisors for help to mitigate the impact of the pandemic and navigate a course through the aftermath.

At times like these, the insolvency profession can be called on to assist in the recovery and stabilisation of businesses. While many people associate Insolvency Practitioners with liquidation (the selling-off the assets prior to winding a business up), our role encompasses far more than that narrow remit. In fact, the earlier we are contacted, the greater the chance of saving a business and turning it around. It may be that a business simply needs help dealing with historic liabilities, assistance with processes to improve cashflow or even an introduction to non-mainstream sources of finance that can fit better changed circumstances. Currently, I’m speaking with many business owners from the leisure and hospitality sector as they seek advice on how best to navigate this situation.

I have been an Insolvency Practitioner for over 20 years and in that time my firm has dealt with a huge range of restaurants: from small pubs at one of the scale, through prime site restaurants to chains stretching across London. It’s given our practice unique insight into exploring a variety of options far greater than going down the insolvency route.

Even if a formal insolvency process is required, it need not always be a terminal solution for the restaurant and its management. For example, a Company Voluntary Arrangement (CVA) will allow the company to continue with the support of its existing management and its creditors.

The restaurant and hospitality industry is competitive in normal times and the issues caused by Covid-19 have presented significant challenges. If you need assistance or advice, feel free to contact me for a free consultation to ascertain your needs and whether I or any of my associates can help you.

 

To follow and contact Kevin:

Tel: 020 7554 9600
Email: kevin.goldfarb@griffins.net
LinkedIn: linkedin.com/in/kagoldfarb