Christie + Co appoints Head of Bank Support and Business Recovery

27 November 2008

Christie + Co, the leading property advisor and broker, has appointed Steve Rodell as its Head of Bank Support and Business Recovery.

Steve previously worked in Christie + Co’s Corporate Hotel team and has extensive hospitality sector experience.

In his new role, Steve will oversee Christie + Co’s bank support and business recovery activities. Christie + Co has provided a full range of bespoke solutions to distressed businesses since it was founded in 1935.

Working alongside specialist insolvency practitioners and business support units, Christie + Co is able to respond to corporate restructuring, administration and insolvency situations by offering intelligent valuation and disposal advice.

Chris Day, International Managing Director at Christie + Co, said: “The last 12 months has been one of the toughest periods in history for UK businesses, and the pain generated by the credit crunch is set to make 2009 equally, if not more, challenging.

“Many businesses have already faltered as a result of the tough economic climate, and many more are expected to fall by the wayside over the next six to 12 months. The credit crunch, high food costs, increases in utility bills and the smoking ban have all impacted on companies across the hotel, pub, restaurant, leisure, retail and care sectors. The need for expert and up-to-date advice on these markets — the buyers, the sellers and trends — has become imperative.

“With this increase in businesses seeking specialist advice in mind, we have decided to create a dedicated role within Christie + Co to manage our recovery-focused work, which we have been undertaking since the company’s formation in 1935. Steve will work closely with our sector specialists across Christie + Co’s 17 UK offices to provide an unrivalled and coordinated response to the individual need of each client.”

Steve said: “Banks, investors and businesses are increasingly examining their debt to identify the level of exposure to the current instability in the UK and global economies. We are able to offer them a full range of debt recovery services, including desk-top valuations, performance benchmarking and value realisation.

—Ends—

For further information on this press release, please contact: Mark Wingett at Christie + Co. Tel: 020 7227 0794. mark.wingett@christie.com