Newspaper article The Journal (Newcastle, England)

Downturn Could Be a Chance for Some

Newspaper article The Journal (Newcastle, England)

Downturn Could Be a Chance for Some

Article excerpt

AN insolvency expert is advising regional businesses and entrepreneurs to start preparing now for a surge in acquisitions later in the year.

Jim James, North East regional chair of R3 and head of the insolvency and corporate recovery unit at Ward Hadaway law firm, highlighted expectations for an increase in the usual levels of deal activity from late summer onwards, and offered advice to businesses that might be on the acquisition trail in the near future.

And with an R3 survey of insolvency industry professionals finding that a large majority think more businesses will close in the current downturn than did so in the recession of the early 1990s, such preparedness could be the key both to saving companies in difficulty and the jobs of their employees.

He said: "As difficult as economic conditions are for many businesses at the moment, the downturn will also bring with it opportunities for others, and there will be plenty of excellent commercial opportunities available for those with the capacity to take advantage of them. …

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