Stayin' alive (just) – high street woe looks set to shake restructuring market out of relative calm
With budget fashion retailers Peacocks and Barratts this week looking set to join a growing list of high street casualties in the latest round of economic turmoil, 2012 should – in theory – shape up to be a busy year for City restructuring and insolvency partners. To date, January has already seen the likes of Addleshaw Goddard, Travers Smith, Linklaters and SJ Berwin win roles on the administrations of Blacks Leisure and lingerie chain La Senza and, with many predicting a surge of additional collapses, the tally of firms winning work from turbulence on the high street is obviously set to increase. Still, a quick glance behind the more high-profile headlines shows that restructuring – and in particular, insolvency – work has so far failed to see the sustained upsurge predicted in the wake of Lehman Brothers’ collapse and the onset of the last recession. While there was a run of deals in the wake of the banking crisis through 2009 and early 2010, by consensus pickings have been slimmer than restructuring teams expected.
After a quiet 2011, insolvency advisers are set to be in renewed demand. Georgina Stanley and Rose Orlik report
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