Patrick Lannagan Partner - Business Restructuring

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Patrick is a Business Restructuring Partner based in Manchester, with over 18 years experience advising distressed and under-performing companies, their shareholders, directors and other stakeholders.

Patrick brings stakeholders together to find a consensual and non invasive solution to the situation, with the aim of preserving value for all parties and securing business continuity. In particular, he is experienced in:

  • Creditor management, including negotiating extended facilities, debt refinancing (including new equity finance), negotiated debt settlements and restructuring.
  • Working capital optimisation, including operational and financial performance improvement.
  • Restructuring businesses with significant pension scheme deficits or other unsustainable debt positions.

Patrick's recent sector experience includes:

Professional Services - Led the solvent restructuring and refinancing of a number of legal practices in the North West, including agreeing significant reductions in stakeholder debt.

Manufacturing - Managed the restructuring of a multi-site UK manufacturing business, which included identifying new private equity finance to support a recapitalisation of the business as well as managing the exit of the Group from a £7m pension scheme deficit.

Retail - Led the solvent restructuring and refinancing of 50 plus site retail chain, including a significant reduction in stakeholder debt and exiting the company’s interest rate hedging product.

Leisure & Hospitality - Managed the restructuring of a number of hotels across the Northwest, securing stakeholder support for continued trading whilst restructuring solutions were explored.

Financial Services - Led the solvent restructuring of an FSA regulated Group, ensuring continuity of its FSA licence and credit card platforms.

Technology, Media and Telecommunications - Managed the successful restructuring of a newspaper and media Group, including the Group’s AIM listed parent company.

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