Member Article

Ferguson Appointed As New R3 North East Chair

A Newcastle business finance expert has taken over as chair of the North East region of insolvency and restructuring trade body R3.

Chris Ferguson is now responsible for leading R3 campaigns to highlight the benefits of accessing qualified advice from North East insolvency and restructuring professionals for both individuals and businesses with financial concerns, and will serve a two-year term in the post.

Chris, who is head of recovery & insolvency at Gosforth-based RMT Accountants & Business Advisors and a licensed insolvency practitioner, takes over the position from Alexandra Withers, who is an associate director at insolvency litigation financing company Manolete Partners plc in Newcastle.

Kelly Jordan, partner in the restructuring & insolvency department at Muckle LLP in Newcastle, has moved into Chris’s previous position of deputy chair.

In his new role, Chris will be continuing R3’s work to engage the North East’s insolvency and restructuring community and educate directors and consumers about the profession’s work and the benefits of seeking early advice.

He says: “The North East’s insolvency and restructuring community makes a significant and often unsung contribution towards the overall well-being of the regional economy, and this expertise will play a crucial role in the region’s economic recovery from the pandemic.

“Much of our members’ work goes unseen, such as the pre-emptive support and advice which helps to save hundreds of companies and thousands of jobs across the UK every year, and that doesn’t necessarily require a formal insolvency process.

“But in order to deliver this, businesses and individuals need to engage with the profession as early as possible – as soon as they become concerned about their finances, and certainly once the signs of financial distress start to show themselves.

“The sooner you seek advice, the greater the range of potential solutions you have available, and the more time you have to take a decision about which is most appropriate for you. Having this sort of conversation isn’t easy, but it’s the first step towards improving the situation you or your business is in.”

This was posted in Bdaily's Members' News section by Julian Christopher .