We are pleased to announce that we have strengthened our Restructuring Advisory team in London with the appointment of public sector specialist Simon Stibbons. He joins as a Partner and will lead our growing government and regulatory offering.
Simon joins from a Big Four firm where he led the government team in restructuring, working to create contingency plans for the failure of privately run public services.
A licensed Insolvency Practitioner with more than 23 years’ experience leading on large complex insolvencies for lenders and companies, Simon recently helped bring troubled rail franchise operators London North Eastern Railway and Northern Rail back under government control.
He has also worked across the hospitality and leisure, retail, oil and gas, transport and aviation sectors, having led on a variety of high-profile restructurings including Travelodge, Dunfermline Building Society, Dreams, Ceona Oil & Gas and Spicers Office Supplies.
The appointment follows a year of significant growth for FRP, which has grown its headcount by 29 per cent, as well as making 34 promotions across its network of 21 UK offices.
COO Jeremy French said: “Simon comes to FRP with a mandate to build on the good work we have already done building our government and regulatory offering. With the government support for businesses – including private sector suppliers of public services – falling away from Autumn 2021, there are likely to be a significant number of public sector suppliers showing signs of distress post-COVID.
“At the same time, local authorities and other government departments continue to experience funding cuts, which is likely to lead to businesses requiring additional support. Simon has great credentials and will work closely with the partnership to explore opportunities in the market and ensure we can continue to provide the highest quality service to clients.”
Simon Stibbons, Restructuring Advisory Partner added: “I’m looking forward to bringing my experience leading on a number of the government’s most complex and high-profile restructurings to FRP. This is a dynamic business with a fantastic reputation, a highly talented team and a track record that speaks for itself. We’re expecting an uptick in demand for support from distressed businesses across the public and private sectors as we come out of the pandemic, and FRP’s focus on business rescue and outcomes that deliver the strongest return for creditors means we’re well-placed to build our government and regulatory offering.”