INSOLVENCY practitioners have relaunched a network to bring together professionals across the Yorkshire region – as latest figures suggest business failures have yet to peak.
The R3 Yorkshire New Professionals Network has been set up by insolvency trade body R3 to provide professionals from trainee to manager level accountants, lawyers, surveyors and specialist financiers who operate in the Yorkshire insolvency market with an informal forum to discuss developments in the sector and their implications.
Johnny Abraham, network head and restructuring manager at Begbies Traynor, said: “The insolvency regime is evolving all the time and the Yorkshire New Professionals Network is designed to help a new generation of professionals to share best practice and stay fully up-to-date with the latest changes so that they can provide clients with the best advice and the best results.
“It also gives attendees the opportunity to meet with their peers in the industry during the early stages of their career and build strong business relationships, strengthening the future of the business community in Yorkshire.”
A launch event was hosted by Bibby Financial Services.
The move comes after reports showed that just 2% of R3 members in the region were confident about the economic outlook for the first quarter of the year.
The majority of them believed that the full impact of the recession has yet to be felt.
During the last recession, the peak for liquidations was 1992, over a year after the recession had officially ended – and R3 expects that this lag will again be repeated this time round.
