Insolvency Practitioners providing Business Advice in Scotland
Immediate Assistance
Restructuring & Insolvency Specialists
Assistance with HMRC & Creditor Pressure
Responsive &
Fast
As insolvency practitioners, we provide advice to business owners in difficulty and help those we work with to navigate the world restructuring and insolvency including administrations, liquidations and company restructuring.
Our dedicated team is on hand to provide independent assistance. When a company is insolvent, a Director has a duty to minimise losses to stakeholders. We are available to talk to you about the problems you and your company face and the possible solutions, with complete confidentiality.
The benefits of speaking with Opus:
- There is no obligation – initial conversations and all pre appointment meetings are free of charge
- We will always work in partnership with you to achieve the best outcomes
- We have nationwide coverage, local reach and extensive contacts
- We are a specialist firm with no conflicts or competing services
- We deliver a Partner led service in each of our offices
How we help businesses
Opus is a restructuring and insolvency practice. Our emphasis is to try to rescue the business and we have a team of dedicated industry specialists who proactively provide innovative and workable solutions and then turn them into reality. However, if a formal insolvency is unavoidable, we can assist you, as required. We ensure a high level of partner contact in each case.
The ethos and supportive culture within the dedicated teams at Opus dictates we look for clear, concise and deliverable solutions to the variety of insolvency challenges encountered.
In addition to our Scottish offices, our nationwide network of offices provides a full range of corporate restructuring and insolvency services to large and mid-range corporates, SMEs and individuals encountering business difficulties.
Lead team contacts
Our lead team members have strong commercial, financial and people skills, which give us added capability and confidence in dealing with day-to-day situations.
Should there be any relevant matter you wish to discuss, please do not hesitate to contact George Dale at our Edinburgh office, or Mark Harper at our Glasgow office.
Scotland Key Contacts
How are we different?
We are passionate about finding positive solutions where jobs and livelihoods can be preserved through an effective restructuring or business recovery exercise. We have excellent examples where we have successfully turned around businesses for the ultimate benefit of all invested parties.
Our services are delivered in a cost-effective manner with stakeholder and creditor’s interests at heart. This is achieved with regular and high-level communication, transparency and buy in from all relevant parties to achieve our goals.
We strive to set high standards of professionalism and ethics in all that we do, and our fundamental guiding principle is to act in the public interest at all times.
We endeavour to act with integrity, objectivity, competence, and care in a confidential and professional manner at all times.
What is next for Scottish business?
Interest rates continue to rise as the Bank of England tries to manage the economy, the cost of living is rapid spiralling upwards and inflation is stubbornly well above the Government’s 2% target, which is affecting everyone.
Then you factor in labour shortages, supply chain chaos and the hangover of the extraordinary challenges and costs brought about by the pandemic. As if these challenges weren’t bad enough, it is also well reported that the UK is facing a recession in 2023.
With the overall state of the economy, it is understandable that businesses are struggling to navigate through these turbulent times. This is going to be an extended period where the default position for Scottish business owners will need to be risk averse and resilient. Now is the time for leadership, strategy, maximum commercial flexibility, and most importantly, the prioritisation of cash generation and conservation as the key drivers for business success.
The Insolvency Service is a government department which, among other duties, has the responsibility for regulating the Insolvency profession in the UK. They produce monthly company insolvency statistics, which reveal:
January to September 2022, there was a total of 750 company insolvencies in Scotland.
This compares with 488 for the same period in 2021 and 574 in 2020.
However, now is the time for cool heads, maximum commercial flexibility and prioritisation of cash generation and conservation as the key drivers for business success as well as survival. This is going to be an extended period where the default position for Scottish business owners needs to be risk averse.
The emergency measures put in place by the Government during the pandemic will certainly impact significantly in drawing conclusions from these numbers, but the direction of travel is self-evident.
Personal insolvencies in Scotland are also on the rise:
Overall, personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for 2022/23 Q1 (April – June 2022) were 2037, which was 8.1% higher than the same period in 2021/22 at 1884.
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