Brendan Hanratty, Managing Director in Duff & Phelps' Corporate Finance practice in Ireland, was recently featured in Irish Independent. The article highlighted Brendan’s career progression, the obstacles he faced changing careers from banking to corporate restructuring as well as the challenges that lie ahead for Ireland’s economy following the COVID-19 pandemic.
Brendan commented: “Economies and businesses are going to take time to wind back up. It is very difficult to see what will come out of it…. How is this shutdown going to impact everybody's behavior, how quickly can businesses ramp back up, can they get their supply? Is their customer base there? If you run a pub, restaurant, will people come back? Nobody knows, but the longer it goes on we can speculate that people's patterns will change as they get used to a new normal."
Brendan added, "We don't know when the lockdown will end, but when it does, it is going to take huge effort through government and international intervention, as well as businesses really focusing themselves to come back from it…Businesses will have to get through the short-term pain, manage cash flow and then re-look at their businesses, their cost base, balance sheet and see how they bring that forward.”
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