Jirsch Sutherland’s WA Insolvency Solutions launches in Bunbury

WA Insolvency Solutions, a division of restructuring consultancy Jirsch Sutherland, has launched a new office in Bunbury, its sixth in Western Australia. 

Established in 1984, Jirsch Sutherland has grown to become one of Australia’s leading independent insolvency specialists. The firm works with distressed businesses and advisors (accounting, finance and legal firms) to provide a wide range of expert corporate and personal insolvency services including liquidations, voluntary administrations, receiverships and bankruptcy. In Western Australia, Jirsch Sutherland trades as WA Insolvency Solutions. 

“One of our firm’s key principles is having a local presence and national reach, and this new office – along with our offices in Kalgoorlie and Albany – certainly reinforces that,” said Jimmy Trpcevski, the Managing Partner of WA Insolvency Solutions.

“Having an office in Bunbury will enable us to strengthen the relationships we already have with the local accountants, lawyers and financial advisers, and it means we’ll be on the ground to provide support for them, their clients, business owners and directors, and individuals when they need it.”

Over the past years, WA Insolvency Solutions has already built a client base in the Bunbury and South West business community, among others providing advice and assistance to SMEs impacted by the pandemic on viable restructure and solvency solutions. The firm also supported a number of clients to negotiate deals with their landlord and other creditors.

WA Insolvency Solutions’ new Bunbury office is located at 23-25 Casuarina Drive, in a shared complex with co-tenant McWilliams Davis Lawyers, a law firm specialising in property and commercial law. Trpcevski calls having the legal firm as an officemate a “great fit”.

The two firms enjoy a good working relationship, having previously teamed up on insolvency matters, property and commercial transactions, and more. “I have known Paul McWilliams and Anthony Davis [directors at McWilliams Davis Lawyers] for a number of years. Like us, they are specialists in their fields.” 

The expansion by WA Insolvency Solutions comes at a time of growth for insolvency experts. According to research from trade credit insurer Euler Hermes, the number of insolvencies in Australia will in the coming months rise by around 10% as temporary support measures of the federal government are winded down. This will see companies across the country dip into financial difficulties, said Bradd Morelli, the National Managing Partner of Jirsch Sutherland. 

“Government support has cushioned the fall and put the country in a strong position compared with many other regions. But it doesn’t mean there won’t be companies winding up. The phasing out of the stimulus measures is expected to start an increase in insolvencies.”

“The zombies will be leading the charge, both pre-Covid-19 zombies (companies that weren’t viable before the crisis but were kept afloat by the emergency measures) and Covid-19 zombies (companies weakened by the pandemic, notably in the sectors most impacted by the pandemic, such as restaurants, hotels, tourism and travel).”

“Business recovery and insolvency are important services that need to be available to the local business community. We are absolutely looking forward to being involved as a permanent fixture in the region,” concluded Trpcevski.