Senior Insolvency Manager Appointed

We are delighted to announce that Gary Bonner has been appointed as Senior Manager in the Restructuring & Insolvency team at Gildernew & Co.Gary comes to the firm with over 12 years’ experience in the Insolvency & Restructuring profession. It is fair to say that Gary joins us at a time of severe economic uncertainty, with many businesses and individuals experiencing unprecedented cost pressures. A well-known seafood restaurant in Belfast recently tweeted that their energy bill for the entirety of 2021 was £31,000, whilst their monthly bill for August 2022, before the October 2022 hike, was £9,500. Increases in energy costs coupled with forecasted rises in interest rates to 6% in 2023, will place a financial burden that, for many, will not be sustainable. Government support is promised, but much remains uncertain. It is anticipated that £400 support for households will be received in November 2022, with a single payment to be credited to householders’ electricity accounts, but questions over how the heating energy unit price cap will be rolled out here are, as yet, unanswered. As always, the best advice is always to seek professional guidance as early as possible. At Gildernew & Co, we are here to assist you and your clients through this difficult period and to ensure your clients receive the best possible advice as to range of options available to them. Contact Gary or Gerard on 028 8772 4697.