Mr Lafferty joins the professional services firm from another Glasgow insolvency firm, where he was insolvency director. He has previously held senior positions with other well-known insolvency firms in the city.

During his extensive career, Mr Lafferty has worked across a wide range of sectors from hospitality and retail to construction, developing expertise in all forms of corporate and personal insolvency procedures.

With businesses across almost all sectors facing difficult trading conditions, the addition of Mr Lafferty as Begbies Traynor’s fifth licensed insolvency practitioner in Scotland will enable Begbies Traynor to use its expertise to support a greater number of businesses.

Thomas McKay, managing partner for Begbies Traynor in Scotland, said: “With a long and successful career in corporate and personal insolvency, George will use his reputation and diverse contacts across Glasgow to help advise our clients on the best route forward from distressed situations.

“He is renowned for his restructuring abilities and will build Begbies Traynor’s profile throughout Scotland, also working across our offices in Edinburgh, Dundee, Aberdeen and Inverness.

“George’s appointment not only adds to the Scottish team’s capacity, but also complements our existing skills, supplementing the senior management team and ensuring that we are able to provide the best possible service to clients as we continue to grow.”

Mr Lafferty said: “As a market-leading and forward-thinking firm, joining Begbies Traynor was an obvious choice for me. The firm has one of the largest teams of insolvency practitioners in Scotland, so is well-placed to support struggling businesses in the current challenging economic climate.

“We’re seeing increasing financial distress across the board as many sectors face a shifting marketplace with demand falling as consumers feel the pinch, together with ever-rising costs. From hikes in national insurance to tariff uncertainty and inflation, even long-established businesses are under threat and it’s vital that they can turn to experienced and trusted insolvency professionals for help.”