Xeinadin Group launches dedicated corporate recovery division
Xeinadin Group Limited (“Xeinadin”), one of the leading professional services groups in the UK and Ireland, has created a dedicated corporate recovery division, to enable it to pool its capabilities from across the group.
Xeinadin Corporate Recovery will include the 25-strong Manchester-based KJG Corporate Recovery team, which has over 70 years’ heritage in insolvency and has won the Turnaround Restructuring & Insolvency (TRI) award for Boutique and Insolvency and Restructuring Firm of the Year twice. It will enable Xeinadin to bring together corporate recovery expertise from across its footprint of over 135 locations across the UK & Ireland.
Earlier this year the group acquired the long-standing corporate recovery practice of Poppleton & Appleby Northern, with offices in Manchester and Huddersfield.
The division, which will be led by Alan Fallows, focuses on the protection, rescue and restructure of solvent businesses seeking to close down and insolvent businesses struggling with debts they can’t afford to pay back.
The move follows the creation of the Xeinadin Corporate Finance division last September, the group’s first announcement on strategic changes following its significant minority investment from Exponent last year which has enabled Xeinadin to focus on its growth strategy and the development of key practice areas.
Xeinadin is a group of business advisory and accountancy practices in over 130 locations across the UK and Ireland that provides over 40 service lines to over 50,000 clients, predominantly small and medium sized businesses and their owner-managers. A fast-growing, acquisitive Group, it is one of the professional services market’s leading disrupters, with more than 1,700 employees.
Derry Crowley, CEO, Xeinadin Group, said: “Corporate recovery is the second division we have restructured across the entire group, which will allow us to build on our significant expertise in this area. This move will allow us to invest further in our corporate recovery services and provide the best advice to businesses across our nationwide client base and from our network of referrers.”
Alan Fallows, director, Xeinadin Corporate Recovery, said: “The corporate recovery space is highly active with many SMEs facing significant challenges from a combination of factors including inflation, supply chain issues, labour shortages and repayment deadlines for Covid-related loans. This restructure will allow us to pool the group’s resources more efficiently and grow faster in an integrated manner, giving business owners the best possible advice.”