American private equity firm Hilco Trading has appointed a new Partner to its rapidly expanding retail restructuring arm - Hilco UK.
Robert Schneiderman, a Chartered Accountant and Licensed Insolvency Practitioner joins founding partners Paul Taylor and Paul McGowan at the City based UK operation.
Robert’s skills complement those of Hilco’s team of retailers and corporate financiers who have made their mark since launching three years ago with acquisitions such as Texstyle World and most recently the ailing menswear fashion chain, Ciro Citterio.
The company specialises in acquiring ailing retail businesses and restructuring them at speed to ensure the business has a platform for future profitability.
Hilco UK also provides a host of other services to retailers, lenders and corporate recovery professionals including: the purchase of under-performing divisions; strategic store closure programmes; finance for acquisitions; and practical and financial support for business turnarounds.
Robert qualified with KPMG in London and was seconded to the recovery section at Lloyds TSB before joining a niche turnaround practice in central London. For more than 10 years he has specialised in working with the management of troubled businesses to improve the efficiency of their operations and maximise their use of the limited funding available.
Whilst retail is one of his specialist sectors he also has experience working in telecoms, transport and manufacturing.
“Hilco UK has made a significant impact in the retail market since its launch in this country and I have already worked closely with the team on projects such as Beatties and Uptons,” comments Robert. “With Hilco’s unique business model and proven track record, it is an exciting time to join. I am looking forward to being part of the foremost turnaround operation in the retail sector.”
As a member of R3 and The Turnaround Management Association, Robert was part of the team that launched the leading website in the turnaround market (www.turnaroundfinance.com).
Paul McGowan, one of the founding Partners at Hilco UK, said, “Robert will be a great addition to our team as we continue to grow in the UK. His experience of dealing on the ‘other side of the fence’ in insolvency procedures will enable us to optimise our restructuring techniques within the constraints of the new Enterprise Act.”
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