Retail turnaround expert Paul McGowan owns 18pc of distressed asset and restructuring group Hilco Capital, which has specialised in buying bombed-out high street brands, fixing them up and flipping them for big profits. The Dundalk-based financier has also been active in Ireland with deals for A-Wear and HMV. The hoped-for turnaround of Xtravision didn't materialise, however. A former accountant, Belfast-born McGowan stepped down as chief executive of Hilco in January to become chairman with responsibility for UK and international business development. In his new role, McGowan will oversee the progress of Hilco's operating companies in the UK, the USA, Canada and South Korea.