Frp Advisory Share Discussion Threads

[sunshine today] 23/4/2020 12:54

This is the first of three from FRP.



My take on this is the following.

Lack of cashflow is killing companies right now and will continue to do so for the years ahead.Like a pack of cards if your not being paid you can’t pay the next man.You can make as many forecasts as you like but without cash coming in your stuffed.The next issue I see is the amount of management time that is being spent on chasing money and suppliers. The idea of anything being just in time has gone out of the window. Stop start on a daily basis is the new norm.If you don’t go bust others in your chain might or will.Extra costs are being incurred everywhere.It appears to me that business have to be ruthless to all the great people who they have worked with for years. This ,just to save your own company. A return to work requires yet more cash, for some cash has arrived from your received invoices, why not keep it and walk away. Is it worth the risk shelling it all out the door again .? Massive debts are everywhere that will be defaulted on that snarl up others in the supply chain. It’s going to be an extremely difficult few years and many are not going to survive. The ones who were on the edge will fall as Will heaps of well run companies that suffer crippling bad debts.

[sunshine today] 23/4/2020 09:10

From last year, when from this 6 minute audio interview one can see Brexit alone had increased the financial stress on companies.

[devonking] 23/4/2020 00:03

Business Dynamism and COVID-19 –an early assessment: Analysis shows that there has been a 70% increase in the number of company dissolutions in March 2020 compared to March 2019. In absolute terms, London had the biggest increase with over 6,400 more dissolutions. In relative terms, this sharp increase was particularly striking in the West Midlands and Wales both of which experienced more than a 100% increase in dissolutions. The sectors particularly influenced by this trend are Wholesale & Retail, Professional Services, Transportation & Storage, Information & Communication and Construction. One important point is that the increase in company dissolutions is driven by young firms which appear as the most vulnerable when facing uncertainty and the current unprecedented challenges.
The UK Government has unveiled a substantive package of support for UK firms, but at the time of writing many firms are struggling to access this assistance and there are some obvious gaps in the range of initiatives announced.

hxxps://www.enterpriseresearch.ac.uk/publications/business-dynamism-and-covid-19-an-early-assessment/

[sunshine today] 22/4/2020 20:32

Wed 22 Apr 2020 20.25 BST


Coronavirus: UK will need social distancing until at least end of year, says Chris Whitty –
Social distancing will be needed until at least the end of the year to prevent fresh outbreaks of coronavirus even though the UK has reached the peak of the current epidemic, the government’s chief medical officer has said.

Prof Chris Whitty, the UK’s most senior medic, said it was important to be realistic that “highly disruptive” social distancing would need to be in place for “really quite a long period of time”.

He said there was only an “incredibly small” chance of a vaccine or treatments being ready for use this year, and social distancing would have to stay in place to suppress outbreaks until then.

His stark assessment dampened hopes that the lockdown would be largely removed when it is reviewed in just over a fortnight

[sunshine today] 22/4/2020 19:19

On that basis FRP has an 11% U.K. market share through its 51 partner practitioners.

[sunshine today] 22/4/2020 19:16

Although there are currently 1,553 licensed IPs,77 anecdotal evidence suggests that not all of these IPs actually take appointments (or take appointments which commonly involve insolvency litigation). In the two previous research reports in 2014 and 2016, calculations were based upon an estimate that there were approximately 450 such active appointment takers. For the purposes of this report, and to enable comparisons to be drawn with the data from the previous reports, it is assumed that there are still approximately 450 active appointment taking IPs. It is appreciated that the figures

[sunshine today] 22/4/2020 17:28

The article above is from last year, not just out as I previously thought

[sunshine today] 22/4/2020 15:43

Just out, this is just what I thought, expand teams in this crisis so the partners can take on the huge amounts of new work. Then hire more people who can carry out the less complicated sections of the Administration’;s.




Nigel Bostock, chief executive of Crowe UK, said: “I am excited to announce Dave’s appointment to our partnership. His diverse background, knowledge and skill set will make a valuable contribution to the firm’s advisory offering as we continue to grow as a national firm with global reach and local expertise.”

Advisory-focused FRP welcomes three directors
Three new directors have been appointed at the advisory firm FRP, expanding the company’s specialty offerings across the UK.

In Bristol, Alex Sargeant will take on a director role in the corporate finance team, bringing 10 years of experience and a specialty in sell and buy side corporate finance advisory. Prior to joining the firm in 2017, Sargeant worked at Deloitte, focusing on financial due diligence.

Specialising in corporate restructuring and personal insolvency, Rachel Heighington will support FRP’s Manchester restructuring advisory team with her experience in a range of sectors.

Additionally, in Birmingham, Ben Jones will help direct that office’s restructuring advisory team.

Supporting these changes, Shelie Gallagher and Patrick Donnan have also been promoted to manager roles at FRP’s Manchester and London offices, respectively, to assist in the restructuring advisory practice.

Jeremy French, managing partner at FRP, said: “We always look to attract and develop the best talent, and it’s extremely rewarding to see the personal progress of those involved in this latest round of promotions.

“Their success is testament to the dedication and high quality of service they provide to clients and I look forward to seeing them continue to deepen those relationships further in the future.”

[sunshine today] 22/4/2020 14:17

Nice to see you here,I really do think this is a safe fast growing business where the owners are totally in line with shareholders. That’s rare on the stock market.

[eeza] 22/4/2020 14:09

from the BEG bb

[sunshine today] 22/4/2020 14:07

eeza how did you come across FRP ?

[eeza] 22/4/2020 14:02

Yes, added earlier today. Offer is being pulled down atm, now 118.00 offered.

[sunshine today] 22/4/2020 13:57

eeza

Look at that list of big names on the first post, these guys are picking up the majority of the work. Crushing the big four. They can also use generic ways of working to save costs. I honestly had no idea up to today just how successful they are, and completely unknown to investors. Can you imagine what’s going to happen when the wider investing community picks up on this.

[eeza] 22/4/2020 13:50

From the same link

"A company that was building a multimillion-pound holiday village at Pickering Showground in North Yorkshire has gone into administration.

David Shambrook and Tony Wright from specialist business advisory firm FRP Advisory were appointed as joint administrators of Pickering Vale (RLH) Ltd on 5 September 2019"......more

[sunshine today] 22/4/2020 13:48

Yo, the Asian fast food chain, is in discussions with its staff to see how it can safeguard jobs after closing all its 70 UK sites following the lockdown order by Prime Minister Boris Johnson.

Mark Brumby, an analyst at Langton Capital, said the casual dining sector is in 'acute distress' and 'busts are likely'. Carluccio's, which restructured in 2018, last week said the coronavirus crisis had 'exhausted the company's cash resources' and it had been struggling to pay staff for March.

Chief executive Mark Jones said the firm's backer – Emirati billionaire Micky Jagtiani, who is said to have invested more than £100million in the business over the years – had 'agreed an additional cash injection' to fund the company long enough to access the Government scheme to pay 80 per cent of wage costs.

But the chain still called in FRP Advisory to handle an insolvency process and could file for administration within days.

[sunshine today] 22/4/2020 12:45

Just found some more appointments. Full updated list in the first post on this bulletin board.

[sunshine today] 22/4/2020 12:27

As far as I can see the market has not been informed of any of the above appointments.
They will only possibly come to light in a trading statement or annual report. FRP does not have a duty to report them since I doubt if any one is over 10% of income or if the potential profit can even be established at a very early stage. It does though bode well for the company and its shareholders.

[moormoney] 22/4/2020 12:15

Impressive list sunshine.

[sunshine today] 22/4/2020 12:13

It must help no end winning new business with that stack of big ticket names on the books.

[sunshine today] 22/4/2020 12:09

List of FRP retailers / eateries on the books as of today. This have come from internet searches.

Bonmarche

Carluccio”s

Comet

Debenhams

Monsoon Accessorize

Koovs

Punching well above their weight.It does look like the big four are no longer BIG