Alistair Dickson heads our Banking and Finance Team and undertakes assignments for both banks and business owners. Alistair has headed up a leveraged and corporate credit department, sanctioning a highly leveraged transaction for acquisition funding for an International Bank. The move to practice has given him valuable insight when assisting clients.

Alistair has worked with corporate borrowers across a variety of sectors, including Hospitality, Healthcare, Engineering, Construction, Energy, Travel, and IT. The businesses ranging in size from small family enterprises to listed entities with a global presence. These assignments focus on restructuring, refinancing and only where necessary formal Insolvency.

Commenting on the current situation, Alistair says:

The current roadmap out of lockdown presents both opportunities and challenges to businesses with the biggest challenge being management of cashflow. With the help of the various government Covid-19 support schemes, companies will now be looking to the exit of lockdown and recovering lost ground on trading activity. However, resuming or upscaling operations is likely to require additional working capital, whether that is for the purchase of materials or increasing staff levels. Funding may also be required for dealing with creditor backlog arising from the Pandemic lockdown."

Businesses that deferred their vat payments between March & June 2020 were due to repay that money this month, although the Government announced on 23 February a new Vat Deferral Scheme to enable companies to settle the debt over a maximum of 11 monthly payments if they join the scheme by 19 March, but current vat payments remain due without any deferment available.

Traditional bank funding, despite historically low interest rates is difficult to obtain placing additional pressure on the financial director to keep the business solvent. It is essential that companies act decisively if they are to survive. This requires an immediate review of its Cash flow & Sales ledger management, financial forecasting and existing lending profile.

Combining Alistair’s experience working with distressed companies with his experience working for an international Bank, he has the knowledge and expertise to advise you in how to meet the existing challenges and maximise the opportunities currently available.

If you would like to discuss how we might assist you, please get in touch with Alistair Dickson.