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Richard Hawes

Senior Managing Director

Richard Hawes is a Senior Managing Director with Teneo in London, having joined Teneo as part of its purchase of Deloitte’s UK Restructuring business.

Prior to the acquisition, Richard led Deloitte’s Restructuring Services teams in the South of England with teams based in Bristol and Cardiff. He has been involved with numerous stressed sale processes of private and AIM listed businesses with deals implemented by share sale, pre-packaged administration or following a trading administration. Richard also led Deloitte’s Global Managed Exit proposition that assists large corporates to plan and implement exits from underperforming and non-core parts of their business.


Selected Project Experience


  • Project Plane – Strategic exit advice to a Japanese owned, UK based manufacturer in respect of the potential exit from two European markets. Work involved employee package evaluation and planning for announcement day communications with stakeholders including local and central government, employees and unions and key suppliers.
  • Projects Canyon and Bearings – Advising separate Japanese auto suppliers re sale of closure exit options from the UK including support re closure cost evaluation, negotiations with OEMs, employee negotiations and crisis comms support.
  • Project Ice – Led the Deloitte team that provided exit advice to an Aviation sector client with Japanese lenders and shareholders including options analysis and a subsequent M&A process.



  • Project Cairo –  Advice to global retailer re turnaround and exit options in its EMEA, Asian and US divisions including detailed evaluation of CH11 process options in the US.
  • New Look – Contingency planning and project management support for New Look re closing operations in China and Europe (France, Belgium, Poland).
  • Karen Millen: – Managing closure of Karen Millen’s overseas operations in multiple jurisdictions in EMEA and Asia/Australia.



  • Project Iris – Assisting a global corporate assess the costs and issues in closing operations in 22 jurisdictions in Europe, Africa and the Middle East.
  • Project Indigo – Strategic Advisor on exit options for underperforming Japanese manufacturing division.
  • Project Hoop  – Assisting a plc board and local management plan and implement operational exit from four loss making locations (UK, Thailand, China and Singapore), diverting customer contracts to India and preparing the company in India for sale.
  • Project Vend – Assisting a global corporate plan the closure of its vending machine business that had become unprofitable due to the effect of regulatory change.


Recent Mid Market work

  • UK Windows – AMA and sale of business via a pre packaged insolvency of UK Window manufacturer.
  • Laidlaw Group – Cashflow review, contingency planning, AMA and administration of a £100m turnover door manufacturing business saving 400 jobs.
  • Bernard Matthews – Contingency planning followed by pre packaged administration of poultry business which secured the business and employment and a higher return to stakeholders.
  • FGP Systems – Contingency planning, part AMA process followed by a month’s trading and then sale of aerospace supplier saving 120 jobs.
  • Lakesmere Group – Contingency planning, AMA and administration of a £80m turnover contracting business with operations in the UK and the Middle/Far East. The Irish business was kept trading solvently with funding from customers post the administration of the UK companies and then sold.
  • Office Outlet – Administration of UK stationery supplier.
  • Walsham – trading administration and sale of UK holiday park business.  Substantial investigation work and settlement of potential claims with directors.
  • Modelzone  – Administration of retailer including partial sale of business with remainder wound down over a 3 month trading period.
  • JT Evans – Contingency planning and subsequent sale of a haulage business post administration, all within 10 days of our introduction following a fraud allegation.

Articles by Richard Hawes