BM Advisory and Moorfields Advisory announce merger
Restructuring and advisory firms BM Advisory and Moorfields Advisory have merged, enabling the two firms to enhance their ambitious growth plans. Andy Pear, Founding Partner at BM Advisory, said the move will prepare the two companies for heightened demand, “following the loss of Government initiatives put in place during Covid-19.”
“Over the next 12 to 24 months we expect to see a number of businesses starting to feel the strain,” Pear explained. “This is an opportune time to ensure we have the additional capacity, geographical spread and expertise to assist them. Moorfields are well placed in the market and have a strong presence in the retail, property and asset based lending sectors. Their ethos is very similar to ours so we are confident that this merger will help us deliver competitive advantage in the market place.
Despite the continued financial crisis seen during the pandemic, the number of administrations and receiverships initially plummeted during 2021. However, as the Government withdraws its support from businesses aimed at helping them weather the pandemic, insolvencies seen across the UK rose by 26%. According to mounting evidence, worse could soon be to come, as inflation and supply-chain pressures bite in the absence of government Covid-19 support measures.
BM Advisory specialises in providing restructuring, recovery and insolvency solutions for businesses and individuals, delivering tailored advice with the aim of preserving stakeholder value. Meanwhile, Moorfields Advisory is one of the UK's leading independent firms of restructuring and insolvency specialists.
Together, the merged businesses will continue to operate under the Moorfields Advisory brand, bringing together two like-minded practices with a shared ethos of partner led advisory with exceptional service. In addition, the merger will strengthen Moorfields’ geographical spread, specialist expertise and breadth of services.
Phil Smith, a Partner at Moorfields, commented, “On behalf of all the partners at Moorfields, we are delighted to have completed this merger and to see our businesses come together as we share our passion for exceptional service in providing advisory and restructuring solutions. We look forward to developing the practice together, in what could be a challenging period for businesses generally.”
The new combined team of 43, including seven partners and four directors, will provide a varied team with extensive experience and a solid track record in insolvency work. Some recent projects among the teams include the administrations and restructurings of Hummingbird Bakery, Toys R Us, Select Fashion, Tough Mudder, Basler, Pretty Green and Hawkins Bazaar, among others.
