Richard Hough Associate Director - Crisis & Disputes

Richard Hough profile

Richard is a Chartered Accountant and qualified Insolvency Practitioner with over 13 years’ experience.  He has extensive knowledge across all aspects of restructuring work with particular focus on business and options reviews, funding solutions, sale of business, cash flow management and stakeholder engagement to find consensual solutions.

During 2018, Richard spent 12 months on secondment at a major UK bank working within their business support team and gaining a valuable insight into bank policies, requirements and procedures.

Richard has significant advisory experience including assisting companies with refinance options, formal reviews of organisations in a wide variety of sectors, including education, professional services and motor retail in addition to reviewing proposals to compromise defined benefit pension schemes. 

Education - Undertook a review on behalf of the secured lender in relation to a higher education college that had suffered trading deficits and was also in the process of merging with a sixth form college subject to a Financial Notice to Improve.

Legal - Combined debt - £16.4m - North West based legal practice with a significant proportion of its income from Personal Injury and Road Traffic Accident - Completed a review of trading projections, suggested appropriate Key Performance Indicators and preparation of an estimated outcome statement for one of the secure lenders.

Manufacture and retail - Bank debt - £2m – North West based food manufacturer and retailer  - Completed a review of trading forecasts and options analysis for the secured lender in order to allow consideration of a debt restructuring proposal presented by management.

Pension restructuring – £21m Scheme deficit – Undertook a review, on behalf of a professional trustee and the PPF, of options analysis and a compromise proposal prepared by the company and its advisor.

Charity – Assessment of a wind down strategy proposed by a North West charity after the trustees had concluded that the organisation was no longer viable in the medium term.  

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