Towergate bondholders add debt restructuring specialists to team

A hand extended holding a bag of pounds - illustration

The Times has revealed that Towergate bondholders have hired "big hitters" Houlihan Lokey, an investment bank that specialises in restructuring, and Sullivan & Cromwell, a law firm based in the USA, to advise investors.

According to the article, Houlihan Lokey will work for senior unsecured debt holders while Sullivan & Cromwell will advise the secured creditors.

Peter Cullum, non-executive deputy chairman at Towergate and non-executive director Andy Homer are also reportedly in the race

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