Moores is delighted to announce that Hilco Capital has been awarded the prestigious Turnaround of the Year Award 2019 at the Turnaround, Restructuring & Insolvency Awards (TRI) held in London. Hilco backed a management buyout of Moores in 2017 and have brought invaluable expertise to their already successful client focused growth strategy that has delivered record growth this year.
This collaboration has saved up to 500 jobs in a British furniture manufacturer and helped Moores with its strategy in getting back to great after 70 years in the KBB industry.
Steve Parkin, CEO of Moores, says: “This award is a great achievement and one of which everyone should be proud. The business has been supported by a great team of supply partners, clients and Hilco. The board would especially like to recognize the hard work by its loyal workforce which has stood by the business during its turbulent period prior to this phase of recovery. We are truly excited about our growth plans and continuing our journey.”
TRI Awards judges commented: “Hilco/Moores demonstrated here a true operational turnaround from carve out, avoiding insolvency from significant losses and saving 500 jobs. This was a well-rounded submission that hit many criteria points, ultimately making Hilco the winner.”
Pictured from left to right: Hugh Whitcomb, Investment Director – Manufacturing, Euan Phillips, Investment Analyst, Steve Parkin, CEO Moores, Mark O’Neill, Senior Investment Manager, James Turner, Investment Director.