Opus expands into Scotland with launch of Glasgow hub

UK consultancy Opus Business Advisory Group has launched its first Scottish office in Glasgow. The news comes in anticipation of a difficult year for businesses, in which there will be heightened demand for the firm’s insolvency services.

Founded in 2013, London headquartered Opus Business Advisory Group offers up restructuring, corporate finance, forensic accounting, turnaround, investment and rescue planning services to clients across the UK. With more than 60 staff, including 21 partners, the firm’s practices work together to help companies and individuals deal with the various financial and operational challenges and opportunities throughout all stages of the business life cycle.

Following a chaotic 2020, businesses across Britain have been struggling to adapt to the coronavirus crisis – and even as the promise of a vaccine is seen as a way out of the pandemic, many firms still look poised for a difficult 2021. With the number of businesses in financial distress still at a peak level in Scotland, Opus has decided that the time is right to launch its first office in Scotland.

Steve Parker, a founding partner of Opus, said, “The success of the vaccination programme and the promise of greater freedom as restrictions are eased are encouraging but nobody should expect the rest of 2021 and 2022 to be anything except deeply challenging for businesses and individuals. Huge financial and commercial damage has been done by the pandemic, so the road to recovery will be dangerous for many.”

The Glasgow office represents Opus’ eleventh in the UK, along with London, Bristol, Maidstone, Croydon, Milton Keynes, Nottingham, Birmingham, Liverpool, Leeds and Newcastle.

The hub in Glasgow’s West Regent Street will be led by Mark Harper, who has been active in the Glasgow business rescue market for over a decade, specialising in corporate insolvency proceedings including administrations, company voluntary arrangements and all forms of liquidations across a wide range of sectors.

Parker added, “We are delighted that Mark shares our philosophy of providing the highest quality national service, but one that will always be firmly rooted in strong local knowledge and experience. Our intention is to continue playing a key role in delivering the best possible outcomes for the broad range of stakeholders.”

Harper is qualified as an insolvency practitioner, and was most recently a Manager in Corporate Recovery with Wylie & Bisset. Speaking on his latest challenge, Harper said he anticipates that 2021 will be a difficult year for businesses and individuals, as they navigate the inevitable financial issues presented by transitioning from lockdown to a world without the support of the government’s support measures. As the ending of schemes like furlough and lifting of bans on landlord enforcement and winding up petitions create a cash flow minefield, he expects heightened demand for Opus.

He added, “I am thrilled to be joining the progressive team at Opus, their network and support will provide me with the platform to be even more active in supporting businesses in Glasgow and throughout Scotland as they face such uncertainty… I will be looking to grow the local team in Glasgow with like-minded professionals with the relevant skills and experience to add value to the group, however having access to the extensive resources and expertise of the whole Opus network, means that I will be able to take on assignments of all sizes and across all sectors right from the outset.”