Member Article

Muckle to help businesses in Special Situations

A North East law firm have set up a Special Situations Team to deal with the commercial and legal issues businesses face in the current economic climate.

Many of Muckle LLP’s clients are SMEs, and the firm decided to set up the team after developing an in-depth understanding of the problems many are facing. The team brings together a wealth of skills and expertise, which helps them respond effectively to a range of unique situations.

Andrew Cawkwell believes that this service could be vital to the survival of many businesses, as it helps to identify their precise requirements by working out who is the most appropriate person to assist them.

The team work closely with a wide range of trusted partners, including company doctors, turnaround practitioners, cost reduction specialists, insolvency practitioners, and many more who can offer help and advice.

Mr Cawkwell commented: “Being able to work with stakeholders, to act quickly, in a co-ordinated way, is crucial.

“It means we can be proactive, whether that’s in finding finance, looking for deals and investment opportunities, reviewing banking covenants, collecting cash or getting working capital in quicker.

He believes that the approach Muckle take is more favourable thank that of the banks, who are often quick to introduce insolvency practitioners into the business and fail to give individual advice to each business.

He continued: “Before it reaches that stage directors should be looking to engage their own business rescue advisers, to look for opportunities to restructure their businesses.

“Our advice is that the earlier we are approached, the sooner we can get in and try to implement solutions that will make a difference.”

Middlesbrough MP Sir Stuart Bell, said: “At a time when jobs are being lost across the region, it is great to see Muckle introducing innovative ways of helping the private sector and securing the ongoing employment of their workforce.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .