Phil
Dunn

WHO I HELP

SME businesses, sole traders and private individuals.

HOW I HELP

Advise on restructuring solutions and options.

SECTORS/SUPPORT

Across all sectors.  Prominent sectors are currently Hospitality & Leisure, Construction and the supply chain.

“SAVING JOBS AND PRESERVING BUSINESSES”

Phil Dunn is a Director in our Restructuring & Recovery team. Based at our Glasgow office, Phil is an experienced restructuring professional focusing on finding solutions for distressed SME businesses, sole traders and private individuals.

A large part of Phil’s focus is on building relationships and networking, to grow the restructuring practice and generate opportunities for the team across the AAB Group.

Building trusting relationships

“My role is a little different to some of my team members, as many of my clients are professional contacts that we strive to build relationships with. These can range from fellow accountants, who may not be able to carry out restructuring or debt work for various reasons, or lawyers who have been approached by one of their clients for corporate debt advice.

Regardless of the type of client, the relationship we build is the same and my aim is to be seen as a trusted advisor, adding value and solutions to my clients.  Due to the nature of the work, it’s of the utmost importance that I always remain ethical and transparent, with trust and confidentiality at the heart of everything I do.”

Saving jobs and preserving businesses

“Personally, one of the most satisfying elements of what we do is saving jobs and preserving businesses. We not only support businesses with restructuring and corporate debt solutions, but we also assist individuals with debt problems. We make sure our clients are aware of all the options available to them and take the time to discuss which solution is the most suitable.”

Collaborating across borders

“Being part of a capable team and having their support and experience is vital to delivering the best service for our clients. We have a Restructuring & Recovery team of 16 across Scotland, England and Ireland, enabling us to keep up to date with the differing insolvency rules and regulations in each country. This means that we are best placed to assist multi-geographical clients, ensuring that compliance standards are being met regardless of which country they are based in.”

Knowing your clients

“Restructuring advice is traditionally hands on, providing practical solutions, reassurance and guidance to clients facing difficult financial circumstances. We have found that many of our clients still prefer the face-to-face approach rather than virtual, but it’s important to give clients the option to choose which method works for them.

We recognise that seeking debt advice can be stressful and upsetting for both individuals and business owners, and we always strive to be as easy to contact as possible.”

Overcoming challenges

“For me, two of the biggest challenges we face are market competition and finding compromises for clients. I try to stay ahead of our competitors by developing relationships in my network that enable us to generate opportunities.

Finding the best solution for our clients involves regular communication and working closely with all stakeholders to find an effective compromise.”

Respect and trust

A core value at the AAB Group is that we respect and trust each other.  We exemplify this in our approach to clients and colleagues and in listening to and considering other solutions and suggestions for the best outcome.

It’s an exciting time to join the AAB Group, the firm has grown considerably over the last few years and that’s resulted in us having a huge pool of expertise and knowledge to draw on.”

Measure of success

“Often there is a misconception on the varied reasons why a business fails which doesn’t take into account the positive aspects of a restructuring process, such as safeguarding jobs, suppliers and landlords. It’s part of our job to achieve as positive an outcome as possible and we must ensure business owners know that.

A measure of success for me is establishing and maintaining client relationships and growing my network, resulting in winning new work. The biggest compliment is when we achieve repeat referrals from a contact as it means we’re doing something right!”