Mark is the top man to lead businesses through downturn

Jul 1 2009 by Peter McCusker, The Journal

NEWCASTLE-based accountant Mark Firmin has been named by KPMG as its new head of business restructuring in the North.

Mr Firmin, who will continue to lead KPMG’s growing Newcastle practice, has been involved in some significant restructuring activity in the recent months.

He has just guided East Yorkshire plc Discover Leisure to a successful conclusion of its company voluntary arrangement proposal, enabling the business to survive and more than 300 jobs to be saved. He was also joint administrator of Sunderland-based ScS Upholstery which fell into trouble last year and was later successfully sold to Sun European Partners.

Mr Firmin, originally from Spennymoor, County Durham, has been a partner at KPMG since 2006 and has been with the firm since graduating 16 years ago when he joined its Darlington office. He moved to Newcastle to focus on restructuring immediately after achieving his professional qualification.

Richard Fleming, who previously led KPMG’s northern restructuring team, has been promoted to lead its national restructuring practice in December.

KPMG is rapidly developing its restructuring offices and Jonathan Marston has returned to the Newcastle office, where he began his career, as a senior manager.

The Newcastle team is part of KPMG’s 200 strong northern practice led by 10 partners and directors.

Mr Firmin said: “Management teams, their banks and other stakeholders are currently welcoming our discussions with them which are based on sharing lessons learned from within the Yorkshire business community.

“In particular, many companies are struggling to adapt to the new corporate agenda. After many years of focusing strategically on growth and acquisition issues companies have very quickly had to change their focus to issues such as stability, funding, contingency planning and efficiency.

“I expect we will continue to be very busy working with a significant number of the region’s companies and their stakeholders as we all eagerly await the return of consumer confidence and liquidity.

“At the moment stress is being felt across the spectrum of sectors but, as some of our administration appointments indicate, the contraction in the economy is proving particularly challenging for the commercial property, retail and leisure sectors. I expect this to remain the case for some months to come as the economy continues to crawl along in a low gear.”