Company to help struggling firms
Sep 21 2009 By Iain Laing, The Journal
STRUGGLING firms in the North East will be able to get help from some of the UK's leading financiers, including the former chief executive of RBS, with the launch of a new company.
Darlington-based management consultancy Jackson Taylor has unveiled a high-powered list of consultants who it says will work on advising the clients of its new Business Turnaround service.
The high-profile panel includes former RBS chief executive Sir George Mathewson, former London Stock Exchange chairman Roy Parsonage and former Boots Group director of corporate affairs Alastair Eperon.
The firm’s chairman Jackson Taylor said it has built up an unusually good book of contacts over its 35 years working in consultancy and headhunting, largely in London for blue chip companies and leading professional firms.
And he will use their expertise in advising businesses and linking them to potential investors with his new enterprise supporting businesses which need help weathering the recession.
The venture will also see Jackson Taylor Business Turnaround taking a stake in some of its client businesses business instead of payment.
Mr Taylor said: "We have a strong contact list, having worked in executive search across the country over four decades. But while we have a relatively low profile in the North East up to now, because most of our work was outside the area, we are looking to work with underperforming businesses in the region.
"There were 500 businesses which became insolvent last year, our aim is to take them when problems show at an early stage through a close diagnosis of their problems and work with them back to where they should be.
"We have a very well-established team and we have access to some very good people and where we see businesses have potential but are experiencing difficulties we believe we can turn them around."
The company is looking to work with companies with turnovers of up to £10m across the North East which are looking for advice on how to revamp their business.
Director John Davidson said: "Companies can find it hard to find really good advice from experienced high level people or money to expand or innovate.
"And if they cannot afford to pay for the service we will discuss taking a stake in the businesses we decide to work with and the company can buy it back later."
