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BPA business support Navigating choppy waters This month, the BPA is holding the second in its series of webinars around the theme of tough conversations. The expert team from Kroll and BPA Lawline will be considering some of the challenges the parking sector may face after the Covid-19 pandemic and in light of recent government proposals on the parking enforcement framework. Louise Parfitt chats to Eddie Bines, Krolls managing director, and Kris Carpen, senior director, from Krolls London restructuring team, to find out more What services do Kroll offer? Eddie Bines (EB): Were a professional advisory firm specialising in services related to governance, risk and transparency. We provide a range of assistance, from helping businesses transform to operational improvements this might be by helping them optimise their cash management or turn around their financial position. We also help businesses to restructure at times of challenge and distress. Kris Carpen (KC): Eddie and I usually get involved when a business starts to experience some degree of financial stress. This can range from mild issues on the balance sheet all the way through to businesses being so distressed that they may have to consider an insolvency, such as an administration or liquidation. Typically, the solutions we look to help with are how to reduce costs sustainably, refinancing debt, managing working capital more efficiently, and so on. In most cases, we can work with them to find a way through their problems. Who is this webinar for? KC: Everyone in the parking profession we work with small business right the way through to larger businesses, both corporate and local authority. EB: Were here to offer a sounding board to help parking professionals navigate the challenges they may find themselves facing. Something might not be an issue for them right now, but the webinar will make them aware of the potential options and solutions if they do find themselves in such a situation. Why is it important to be holding this session now? EB: Its a bit of a perfect storm for the parking sector at the moment, because of the government proposals on parking enforcement in particular, that charges for private parking mirror the local authority charging structure and the fact that all businesses have been impacted by the Covid-19 pandemic to some extent. Even if corporates dont consider themselves to be in an immediate position of stress, any responsible CEO is going to be horizon scanning, to look at potential impacts on their business and what the options are. KC: A lot of the work we do is designed to give businesses an understanding of whether they are going to hit a bump in the road even if they dont know about it yet. We can help them understand when that might be, the size of that problem, and what they can do to alleviate it so it doesnt become a recurrent issue; even how they can prevent it occurring. What will you be covering in the webinar? KC: Well discuss in more detail the impacts weve seen from Covid, what the unwind of the government support might look like during the next few months, and what that might mean for the operators. Derek Millard-Smith, from BPA Lawline, will be running through the impact of the proposed legislation changes for the sector. Well also be making people aware of some of the solutions that might be available to them. EB: Well be sharing some examples of where we have come across similar situations in the past, to show how these solutions can help. It may be a difficult time, but support is available. The webinar will take place at 2pm on Thursday 10 June. To find out more and register, please go to britishparking.co.uk/webinars 32 britishparking.co.uk PN June 2021 pp32-33 Kroll Webinar.indd 32 21/05/2021 11:36