Johnston Carmichael picks Graeme Bain to lead restructuring team

UK accountancy and business advisory firm Johnston Carmichael has appointed Graeme Bain as head of restructuring. The move comes at a time of transition for the restructuring market, with Johnston Carmichael expanding its offering to provide “the clarity and confidence they need to make informed decisions at critical moments”, according to Bain.

He continued, “I am extremely proud to lead Johnston Carmichael’s restructuring team at a time when the importance of clear, practical and commercial advice really can’t be underestimated. Our team has great strength and depth across a range of sectors. It’s exciting to be stepping into this role as we continue to support directors, creditors and other stakeholders through a range of complex and often challenging scenarios.

With pandemic-era debts continuing to bite, heightened inflation and supply chain disruption mean that businesses and individuals are facing continued headwinds across a range of sectors. Amid this, many are seeking commercial and practical advice when navigating financial distress, turnaround options and formal restructuring processes.

Founded 90 years ago, Johnston Carmichael has over 800 people across offices throughout Scotland, and in Newcastle and London. Johnston Carmichael’s restructuring team advises businesses, directors, creditors and individuals across solvent and distressed situations, providing support on turnaround, contingency planning, formal insolvency and restructuring options.

As the firm continues to grow its offering through the UK, Bain will lead the firm’s restructuring business line, supported by partners Donald McNaught and Richard Bathgate.

McNaught previously led the team, and will continue to play an important senior role, focusing on a targeted portfolio of strategic work. Bathgate meanwhile will focus on business development and external engagement, helping to further strengthen the team’s profile in the market.

Lynne Walker, CEO of Johnston Carmichael, added, “Graeme’s appointment reflects both the strength of our restructuring team and the importance we place on long-term succession planning across the firm. He brings considerable experience, technical expertise and a clear understanding of the challenges facing businesses and individuals in the current market. Under his leadership, and with the continued support of Donald, Richard and the wider team, our restructuring practice is well placed to continue delivering the practical, commercial advice our clients need and value.”