FRP launches restructuring offering in Norwich office
FRP Advisory has launched a new restructuring team in East Anglia, adding to its corporate finance and forensic services lines. The news follows the appointment of Richard Bloomfield as a Director in its Norwich office.
Since 2020, when it acquired local firm JDC Group, FRP Advisory has had a presence in Norwich. Since then, FRP’s East of England presence has specialised in in providing clients with corporate finance and forensic services support.
According to Chief Operating Officer, Jeremy French, this has seen FRP’s Norwich team play an instrumental role in the firm’s growth throughout what has proved to be a challenging two years for the UK economy. Now, as companies across the region brace for further difficulties, with record inflation and supply chain uncertainty destabilising many companies, FRP has decided to add restructuring services to its Norwich capabilities.
In recent times, FRP’s national restructuring advisory practice has advised on some of the UK’s most high-profile administrations in recent years, including that of Debenhams, Carluccio’s and Edinburgh Woollen Mill. With that level of experience, the firm believes it is well positioned to introduce its service line to the East Anglian city.
Leading the charge will be Richard Bloomfield, who becomes an appointment-taking Director in the Norwich office. Prior to arriving at FRP’s 26-strong team in Norwich, Bloomfield worked with insolvency training business NTI. There, he spent the best part of the last decade developing future insolvency practitioners. He also brings local knowhow to FRP, however, as prior to NTI he spent 10 years with Norwich-based accountancy and advisory firm Larking Gowen, supporting business recovery in the region.
Speaking on the arrival, Jeremy French added, “Our Norwich team has played an instrumental role in our growth over the past two years, and this latest development brings it in-line with the full service offering we provide to our clients across the UK. Richard’s technical expertise and relationship with local referrers and insolvency practitioners make him the ideal person to develop our restructuring team in East Anglia, which we look forward to helping him do at pace.”
Bloomfield, meanwhile, is keep to hit the ground running. With the economic effects of Covid-19 having “dented the prospects of many across East Anglia”, he acknowledged that the coming period will be a “critical time for preserving jobs and recovering value in the region.”
Commenting on his new role, Bloomfield concluded, “FRP’s restructuring team has an enviable reputation for putting businesses back on the path to growth, so it’s a privilege to help it increase its presence locally and add to its already outstanding specialisms in Norwich.”
As a key hub in the East of England, with a leading university, Norwich is home to offices of many of the professional services industry’s biggest names, including all of the Big Four. It has also attracted a number of boutique firms from across Europe, most recently including the arrival of German-origin business consultancy bdg.
