{{Short description|UK business}} '''Cork Gully''' is a financial and operational restructuring advisory firm headquartered in London.<ref>{{cite web|url=https://www.privateequitywire.co.uk/2022/06/14/315275/mj-hudson-partners-cork-gully |title=MJ Hudson partners with Cork Gully |work=Private Equity Wire|date=14 June 2022| accessdate=29 March 2023}}</ref> The firm specialises in business transformation, restructuring and special situations, such as the management of tail-end and/or challenged funds, as a sub-advisor or successor asset manager.<ref name="Cork Gully: Our History">{{cite web|title=History|url=https://corkgully.com/about-us-preserve-enhance-value/ |publisher=Cork Gully LLP|accessdate=29 March 2023}}</ref>

The original firm Cork Gully was established as an insolvency practice, and became pre-eminent in its field from the 1960s to 1990s.<ref name=roger-cork-obit/> In 1980, it merged with Coopers & Lybrand, later becoming part of PricewaterhouseCoopers (PwC).<ref name="Consultancy UK">{{cite web|title=Cork Gully expands portfolio with asset management offering |date=8 June 2023 |url=https://www.consultancy.uk/news/34369/cork-gully-expands-portfolio-with-asset-management-offering |publisher=Consultancy UK |accessdate=29 June 2023}}</ref> In 2010, the current management team bought the firm from PwC and established Cork Gully LLP, retaining the brand and its insolvency practices as an independent entity.<ref name="Consultancy UK"/>

==Original firm== {{Infobox company | name = Cork Gully | type = Partnership | industry = Insolvency | fate = Merged into PwC | predecessor = WH Cork & Co | founded = {{Start date and age|1906}} in London, England | founders = William Henry Cork, Kenneth Cork, and Harry Gully | defunct = 1999 | hq_location_city = London | hq_location_country = England | key_people = Sir Kenneth Cork, Roger Cork | num_employees = | num_employees_year = <!-- Year of num_employees data (if known) --> }}

In 1906 William Henry Cork created WH Cork & Co, focusing on grocery businesses which were, at that time, being forced out of business by the growth of multiple grocers. In 1935 William Henry Cork formed a partnership with his son Kenneth Cork, and Harry Gully, creating Cork Gully.<ref name="Cork Gully: Our History"/><ref name=roger-cork-obit>{{cite news|title=Sir Roger Cork|url=https://www.telegraph.co.uk/news/obituaries/1411540/Sir-Roger-Cork.html|accessdate=26 March 2013|newspaper=Daily Telegraph|date=29 Oct 2002}}</ref> After William Henry Cork's death and a period of wartime service, his son Kenneth Cork succeeded him as senior partner. He went on to expand the firm as a specialist insolvency practice, gaining pre-eminence in its field by the 1970s. Gerhard (Gerry) Weiss joined the firm in 1952, and was made the first insolvency partner in 1954.

Sir Kenneth Cork (as he later became known) chaired the Cork Committee, whose report issued in 1982 is widely referred to as the Cork Report which led to the passing of the Insolvency Act 1986. He also served as Lord Mayor of London in 1978–79.

Sir Kenneth's son Sir Roger Cork followed in his footsteps, both as a partner in Cork Gully and as Lord Mayor of London (1996–97).<ref>{{cite web |title= Sir Roger Cork Lord Mayor |publisher= Worshipful Company of Bowyers |archivedate= 3 August 2012 |url= http://www.bowyers.com/index.php?option=com_content&view=article&id=158&Itemid=389 |archiveurl= https://web.archive.org/web/20120803133121/http://www.bowyers.com/index.php?option=com_content&view=article&id=158&Itemid=389 |url-status= dead }}</ref>

In 1980 Sir Kenneth Cork's successor as senior partner, Michael Jordan, led the firm into a merger with Coopers & Lybrand,<ref>{{cite web|url=http://www.managementtoday.co.uk/news/411874/UK-Profile---Michael-Jordan-Cork-Gully/ |title=Profile – Michael Jordan of Cork Gully |publisher=Management Today |date=1 Jan 1993 |accessdate=3 August 2012 |archivedate=28 May 2012 |archiveurl=https://web.archive.org/web/20120528135713/http://www.managementtoday.co.uk/news/411874/UK-Profile---Michael-Jordan-Cork-Gully/ |url-status=dead }}</ref> which continued to use the name. The Cork Gully brand was eventually discontinued in 1999 after Coopers and Lybrand itself merged with Price Waterhouse to form PwC.<ref>{{cite news|last=Stokdyk|first=John|title=Cork Gully axed|url=http://www.accountancyage.com/aa/news/1766503/cork-gully-axed|accessdate=3 January 2012|newspaper=Accountancy Age|date=31 March 1999}}</ref><ref>[http://www.icaew.com/index.cfm/route/155667/icaew_ga/en/Home/About_us/History_of_accounting/Coopers__Lybrand Coopers & Lybrand] {{webarchive|url=https://archive.today/20121209133204/http://www.icaew.com/index.cfm/route/155667/icaew_ga/en/Home/About_us/History_of_accounting/Coopers__Lybrand |date=2012-12-09 }} Family Tree, ICAEW</ref>

The original firm's assignments included Rolls Razor, Emil Savundra,<ref name=roger-cork-obit/> Barlow Clowes and car maker De Lorean.<ref name=re-established>[http://www.accountancyage.com/aa/news/1895421/cork-gully-established-grandson Cork Gully re-established by great grandson], ''Accountancy Age'', 11 November 2010</ref>

==Present day== {{Infobox company | name = Cork Gully LLP | logo = Cork Gully Logo.svg | type = LLP | industry = Advisory | fate = | predecessor = | successor = <!-- or: | successors = --> | founded = {{Start date and age|2010}} in London, England | founders = Stephen Cork | defunct = <!-- {{End date|YYYY|MM|DD}} --> | hq_location_city = London | hq_location_country = England | area_served = <!-- or: | areas_served = --> | key_people = Stephen Cork, Managing Partner | products = | owner = <!-- or: | owners = --> | num_employees = | num_employees_year = <!-- Year of num_employees data (if known) --> | parent = | website = {{URL|http://www.corkgully.com/}} }}

In 2010 Stephen Cork, great grandson of the original founder William Henry Cork, acquired Cork Gully<ref>{{cite web|url=https://find-and-update.company-information.service.gov.uk/company/01852516| title=Company number 01852516| website=Companies House| accessdate=2023-02-07}}</ref> from PwC and established Cork Gully LLP in London.<ref name=re-established/><ref>{{cite news|url=http://www.insolvencynews.com/article/show/Cork-Gully-returns-today |title=Cork Gully returns today: Cork continues family heritage| newspaper=Insolvency News |date= 22 November 2010|archiveurl=https://web.archive.org/web/20110713041946/http://www.insolvencynews.com/article/show/Cork-Gully-returns-today |archivedate=13 July 2011}}</ref> He was formerly the Head of Restructuring & Recovery at Smith & Williamson,<ref name="Stephen Cork resigns">{{cite news|last=Singh|first=Rachael|title=Smith & Williamson restructuring head Stephen Cork resigns|url=http://www.accountancyage.com/aa/news/1808371/smith-williamson-restructuring-head-stephen-cork-resigns|newspaper=Accountancy Age|date=2 August 2010|accessdate=12 April 2013}}</ref> now Evelyn Partners. The firm provides advice on business transformation, asset management, disputes, restructuring and insolvency.<ref>{{cite web|url=https://corkgully.com/ |title=Cork Gully}}</ref>

Cork Gully has offices in the United Kingdom, the Channel Islands, Luxembourg, Cayman Islands and New York.<ref name="Consultancy UK"/>

In June 2023, the firm launched an asset management division to provide support for managers and investors in challenged and tail-end funds. It also advises on and manages regulated and unregulated investment funds, either as sub-advisers or replacement managers.<ref name="Investment Week">{{cite web|title=Cork Gully launches asset management division |date=8 June 2023 |url=https://www.investmentweek.co.uk/news/4117514/cork-gully-launches-asset-management-division |publisher=Investment Week |accessdate=29 June 2023}}</ref>

==See also== * List of management consulting firms * List of asset management firms

==References== {{Reflist}}

==External links== *[http://www.corkgully.com Cork Gully], website of the new firm

Category:Insolvency and corporate recovery firms Category:Accounting firms of the United Kingdom Category:Financial services companies established in 1935 Category:Financial services companies disestablished in 1999 Category:Financial services companies established in 2010 Category:1935 establishments in England Category:1999 disestablishments in England Category:2010 establishments in England Category:1906 establishments in England Category:Asset management companies