Recovery team scaling up at RMT Accountants

RMT Accountants & Business Advisors’ specialist recovery and insolvency division is set for further growth after the addition of two highly experienced recovery professionals to the team.

The Gosforth-based firm has brought in Chris Ferguson to work alongside the current head of its recovery and insolvency team, Linda Farish, as the new joint head of what is the North East’s largest specialist independent team of its type, while Chris Wray has also joined in an administrator role.

Chris Ferguson has worked in senior roles for some of the UK’s biggest professional services firms for more than 20 years, predominantly on corporate restructuring engagements.

As well as managing formal insolvency procedures for companies of all sizes, he also has extensive experience undertaking business reviews, including strategic option and exit planning for lenders, and developing refinance strategies for distressed businesses.

He is a licensed insolvency practitioner and a member of both insolvency and restructuring trade body R3 and the Association of Chartered Certified Accountants.

Chris Wray began his career in the Official Receiver’s office before moving into private practice in 1991 and has well over two decades’ experience in recovery and insolvency work for a number of business advisory firms within the North East.

He specialises in both personal and property related insolvency, including significant experience undertaking complex LPA Receivership engagements for secured lenders.

Chris Ferguson says: “RMT has a well-established and very highly-regarded recovery team that occupies a strong mid-market position, and the opportunity to be part of it is a really exciting one.

“I want to use the experience I’ve gained from my previous roles, alongside the comprehensive understanding of the regional business community that RMT has, to further enhance our recovery and restructuring offering across North East England

“Detailed local knowledge can make a huge difference to the chances of finding the right solutions for companies in challenging commercial situations and saving the regional jobs that they support.”

Mike Pott, managing director at RMT, adds: “We’ve seen a polarisation in the North East insolvency market, and our position as a strong independent mid-market firm with a detailed understanding of the regional economy and a wide range of local business contacts gives us a great chance to build on our long-standing presence within it.

"Not only does our team undertake formal insolvency procedures in the best interests of all parties involved, but it is also often able to identify ways in which struggling businesses can recover from financial problems, or indeed avoid them altogether through detailed business planning work.

“Chris is a highly experienced professional who brings a wide range of skills, experience and local knowledge to the insolvency team, and his leadership will be extremely valuable as we look to further expand our work in this area.”

RMT provides the full range of financial and business advisory services through its corporate finance, accountancy, specialist tax, medical & healthcare, and recovery & insolvency teams, and works with firms of all sizes both within and outside the North East. For further information, please visit www.r-m-t.co.uk