Insolvency and restructuring professionals will play a critical role in helping firms adapt to the post-Brexit landscape, according to the new regional chair of a major trade body.

Allan Cadman, a partner at Poppleton & Appleby, based in Birmingham, has become the North West chair of trade body R3, which represents those in the sector.

He has taken over the role from Paul Barber of national firm Begbies Traynor. The new deputy chair will be Jean Boldero, a restructuring lawyer with Addleshaw Goddard, based in London.

Allan said: “After years of uncertainty, corporate insolvencies are now at their highest level for seven years and although we have left the EU, it is still unclear what shape Brexit will take.

“Certainly there may be some shockwaves in store, while technological disruption and environmental issues will further add to the pressures.

"As professionals, our role is to intervene to save struggling firms and jobs wherever possible.

“Amidst all this change, we also need to be careful not to damage the basis of our enterprise culture. Some of the new measures being proposed by the Government have not had the scrutiny they deserve.

"For example, plans to give HMRC additional powers to pursue directors for company liabilities, and priority for payment in insolvency cases, could make it more risky to start a business and damage business lending.”

With business numbers now at record levels, Allan said he would also like to see better training to give entrepreneurs the skills they need.