Pride as Bridgnorth firm celebrates special accolade

Grainger & Worrall collected an award at the IFT Annual Awards, the UK’s prestigious awards celebrating business recognises individuals and organisations for turnaround excellence. 

It won the Mid-market Turnaround of the Year award with judges saying: "This operational turnaround submission demonstrated clearly how the business had been taken back to profitability and growth, with high-quality jobs being preserved. 

"The case leaned on the skills of independent IFT members and other members of the turnaround community, and there was an array of stakeholder work, including with the family owners, customers and the local media."

Milly Camley, CEO of The IFT said: “Congratulations to all the 2024 winners, and I’d like to express gratitude to our independent judging panel who had such a difficult task as usual differentiating between such universally high-quality submissions. 

"The IFT is centred around the incredible work of our members and partners and the value and impact they demonstrate. This is only increasing, as this year’s figures for jobs saved and value created in our upcoming annual Societal Impact Report demonstrate.

"We will continue to recognise and champion this work through our awards, with some changes to the submissions process for next year to ensure that organisations can highlight the brilliant independent turnaround practitioners they work with”.  

 Speaking for Grainger & Worrall, Andrew Burn said: " I am incredibly proud. 

"It is a great result for the employees, credit insurers, suppliers, funders, customers, advisers, lawyers, owners, management, head-hunters, interims and many other people who made some contribution to this success story to be recognised.   

"For those of you who have had the experience of intense turnarounds, you will know how much effort and sleep deprived days go into turning a business around.  

"Recognition should also go to the family that owned and ran the business for 77 years prior to the turnaround and put their faith into the process and team to 'reset' the business and agree to the buyout in 2023. 

"In my humble opinion, Grainger & Worrall is an outstanding example of a group of people and organisations working together to achieve a common goal rather than any individual organisation trying to dominate a plan with its own agenda. 

"Like many companies Grainger & Worrall will continue to have its ups and downs but without a doubt it is a much stronger business than it has ever been particularly with under the leadership of Duncan Eldridge, the Group's CEO who has been an inspiration to everyone, including me, since his appointment in February.   

"A core attribute that has been central throughout the turnaround and is now inherent in all aspects of the business is an attitude of 'no politics and when you say you're going to do something, however big or small, you deliver on that commitment, whatever it takes. On a personal note, thank you to everyone who has played a part in the GW journey, it has been a privilege to be part of it."