Endless was delighted to host its inaugural Midlands Turnaround Dinner on 10 June 2010. Nick Leitch, Garry Wilson, Darren Forshaw and Peter Yendell of Endless were joined by a select number of senior local business leaders from the restructuring, banking and legal community in a state of the nation debate.
The consensus view around the table seemed to be that the market is currently benign and in economic terms is likely to get tougher before the outlook improves over the longer term. Changes in public spending and flatter consumer activity are also expected to impact growth. Guests also expressed the view that there remains a significant level of outstanding principal debt out with corporates, which is yet to be repaid. Whilst much of the interest burden associated with the debt mountain is being serviced at present, the view remains that capital repayments in many instances are being deferred. Much discussion was had on whether this is storing up problems for the longer term?
Other than a shock increase in interest rates or a sustainable return to growth for the wider economy, attendees felt there were limited alternative catalysts to really drive recovery in the very near term. We await the emergency budget on 22 June 2010 with baited breath.
We would like to express our thanks to our guests for their attendance and lively debate. We have received great feedback following the event and plan to host a similar evening again in the near future.
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