Kroll selected for Restructuring and Insolvency Services framework

10 March 2022 2 min. read

Professional services firm Kroll has been named as a supplier on the Crown Commercial Service’s Restructuring and Insolvency Services framework. The firm joins 14 other consultancies on the list of partners.

As an executive agency, sponsored by the Cabinet Office, the Crown Commercial Service (CCS) brings together policy, advice and direct buying; providing commercial services to the public sector and saving money for the taxpayer. CCS's operations break down into framework agreements, which are a set of pre-tendered with a range of suppliers from which public sector customers can purchase goods and services.

The Restructuring and Insolvency Services framework enables the UK Government and public sector bodies to access specialist restructuring and insolvency services from a range of suppliers in a cost effective way. As the CCS looks to expand the framework, it has added a 15th consulting firm to it – in the form of Kroll.

Kroll added to UK public sector restructuring framework

Kroll is a company which provides proprietary data, technology and insights to help clients stay ahead of complex demands related to risk, governance and growth. The firm has 5,000 experts around the world, including 150 restructuring and turnaround professionals based across the UK. The firm takes on regular work of this type across the country; for example, Kroll was recently appointed administrator to affordable housing group, Mulbury Homes.

Phil Dakin, Managing Director for Restructuring Advisory at Kroll, commented, “We look forward to transferring our skills established in the private sector to assist public sector organisations with working to improve outcomes for taxpayers and the wider community.” 

As a supplier on the Restructuring and Insolvency Services framework, public bodies will be able to access Kroll’s specialist services including. These include business reviews, insolvency contingency planning, cash flow reviews, and distressed debt restructuring when faced with matters of corporate stress and distress which directly or indirectly impact the government.

“We are delighted to become a supplier on the CCS RM6269 Restructuring and Insolvency Services framework and support the Government with the UK’s economic growth as it continues to emerge from the pandemic,” said Benjamin Wiles, another Managing Director in Restructuring Advisory at Kroll. “We provide restructuring advisory experience combined with multi-disciplined transaction capabilities to help our clients identify new paths to growth and profitability.”

The full list of consultancies on the Restructuring and Insolvencies framework are:

Begbies Traynor
FRP Advisory
FTI Consulting
Grant Thornton
Smith & Williamson

In 2020/21, CCS helped the public sector to achieve commercial benefits equal to around £2 billion.