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Bristol TMA Meeting Hailed a Success !

Added: (Mon Apr 15 2002)

Pressbox (Press Release) - The Turnaround Management Association (TMA) held its inaugural Bristol meeting at the famous Harvey’s Wine Cellar in Bristol. The meeting, which was sponsored by State Securities, Tenon Recovery and Edward Symmons is already being hailed a success and was the first of its kind in Bristol, attracting over seventy local financiers, accountants, solicitors, lawyers and turnaround professionals.

Paul Burke, Southern Region Committee Member of the TMA and from sponsor State Securities said, “by providing events such as the Bristol meeting, the TMA is providing a platform and networking opportunity for all participants in the business of helping companies in economic turmoil remain profitable and stable. The TMA recognises that insolvency processes will continue to play a role within the arena of corporate renewal. However, the TMA feels that more must be done to nurture successful or potentially successful businesses without recourse to receivership or any other enforced insolvency process. The UK arm of the TMA has been set up with the aim of participating in the debate whilst encouraging corporate renewal and actively promoting the involvement of all stakeholders”.

Tenon Recovery director, Carl Jackson said, “We were delighted that the launch generated such an interest, which demonstrates the thinking that people now see business turnaround as a real alternative to formal insolvency proceedings.”

Chris Price of Edward Symmons & Partners commented, “We are very pleased to be associated with the TMA and very much hope to be of assistance to members in all aspects of valuations and sales.”

David Kinnon, President elect of the TMA, said “TMA UK’s current membership spans the disciplines involved in the Turnaround Industry including corporate funders, valuers, human resource professionals, lawyers, accountants, academics, investors, turnaround practitioners and insolvency practitioners.

The UK arm of the TMA has been set up as a forum for people who are in the business of helping companies in economic turmoil achieve stability and regain profitability. Regional meetings such as this one provide an excellent opportunity to share ideas, opinions and liaise with other professionals in the same field”.

As well as an annual conference at the Institute of Directors in London, future TMA events are planned in London, Leeds, Manchester, Southampton, Swindon, Taunton and The Midlands.

Please contact Sarah Garrett for details on future TMA events (t: 01489 775600, sgarrett@statesecurities.plc.uk)


-ENDS-

FOR FURTHER INFORMATION AND PHOTOGRAPHS CONTACT :

Jo Macklin
State Securities
t: 01489 775600
jmacklin@statesecurities.plc.uk

Elka Raine
TMA
Tel : 0207 7985629
elka.tma@ntlworld.com


NOTES TO EDITORS :

State Securities offer assistance to customers who are looking to raise finance for the acquisition of assets either new or used, along with the re-financing of assets already owned by the business. It also provides commercial mortgages for properties such as factories, warehouses, offices and retail.

State Securities works with a wide range of clients, including public and private limited companies, partnerships and sole traders as well as companies which have difficulty in raising finance in a short period of time, for example new start businesses and businesses in corporate or individual voluntary arrangements.

State Securities has over 20 years experience in the asset financing market and are part of First National Bank plc which provide a range of personal and business finance solutions. First National Bank is one of the UK’s leading finance houses with 4000 staff, relationships with over four million customers and net loan assets of around £9 billion.

First National Bank plc, which has head offices in Harrow, became part of the Abbey National Group in 1995. Rapid growth in the last five years has seen First National grow to more than eight times the size it was in 1995, and profits have leapt by £130 million in the same period.

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