Transport

RBR Advisory has strong, evidential experience in handling complex cases in the transport sector including high-profile administrations and restructuring work.

Huw Powell, Partner in our Cardiff office, has nearly 20 years’ experience advising automotive, aviation, logistics, haulage, and general transportation businesses through a wide range of both solvency and insolvency solutions – and his team work with businesses of all sizes on issues such as cash flow concerns, underperformance, debt advisory, and raising finance.

We have a particularly strong skillset in the travel sector as an ABTA Travel Industry Partner and possess excellent relationships with industry regulators such as CAA. We can demonstrate a proven track record of assisting travel agencies and tour operators address financial challenges and returning value, highlighting true commercial expertise.

Our team has built a strong network of lenders, accountants, lawyers, agents and turnaround specialists to support business rescue, providing assistance to directors, creditors and other stakeholders. We handle more corporate insolvency/recovery cases than any other UK practice and have a strong presence in all major financial centres, which enables us to undertake multi-location assignments.

A recent case was a multi-brand tour operator with a turnover of £120m and 350 staff.

Key Achievements

BTG Advisory partner appointed to the board for financial and strategic oversight
Stabilised short-term cash flow and controlled cash outflows – reversed overdraft position
Identified immediate cost savings and improved profits
Assessed departmental profit and loss to identify loss-making tours and products
Placement of deposits in high yield accounts
Liaison with stakeholders, such as CAA, banks and merchant acquirers and managing risks
Valuation of the company – identified significant equity value
Corporate finance through to eventual sale

We can also point to other high profile restructuring cases including the administration of the last surviving business class-only transatlantic airline – Silverjet PLC. More recently, we advised a coach operator which had been established for nearly 60 years - AC Williams. It had healthy bookings but its future was threatened after AC Williams Renault dealership, its sister company, closed. Despite interest from local coach operators, it was bought by a private investor moving into the sector to turnaround small family-owned firms in difficulties. As well as buying its assets, the buyer is providing cash and management input. The future will include keeping the AC Williams name, Williams’ family involvement and a range of plans for growth. The jobs of 25 drivers, office staff and mechanics were saved.