PBC announce large dividend paid from company voluntary arrangement

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PBC are pleased to report on the recent payment of a dividend from a company voluntary arrangement (“CVA”).


After consulting with a financial consultant and seeking advice from PBC, the company proposed a CVA to its creditors which was approved with modifications in December 2013. The arrangement consisted of a splitting of the company into two distinct trading entities which included the saving of the majority of the employees’ jobs.  The arrangement included the sale of assets and contributions from future profits.


Recently, the directors of the company approached the joint supervisors regarding the possibility of varying the arrangement by settling the outstanding amounts due in respect of the monthly contributions and the sales consideration by way of a lump sum payment. The variation was approved by creditors who have now received a distribution earlier than originally expected.  The joint supervisors have distributed over £92,000 to creditors.


Joint supervisor Gary Pettit said, “It is always pleasing to be involved in the rescue of both a company and the saving of jobs, both of which have happened in this case. The directors sought advice at an early stage which resulted in the possibility of a rescue option being available to them.  This has allowed the company to turn around its financial situation.”

Local Entrepreneur Wins Young Business Person Award

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Fae Perkins, owner of Northamptonshire hair extensions business, Bond Hair, was crowned ‘Young Business Person of the Year’ at this year’s SME Northamptonshire Awards.

Fae, aged 29, set up her business specialising in professional hair extensions over 8 years ago and was also shortlisted in the Business Innovation and Entrepreneur of the Year categories at the awards ceremony which took place last Thursday evening.

The judges commented “Fae seems to have limitless energy linked to an impressive personal drive.”

Fae runs what she classes a ‘lifestyle business’ on top of holding down a full time position as Marketing Manager for prestigious self-build company, Potton. Fae has maintained and grown her loyal client base regardless of also being dedicated to her full time day job.

The Young Business Person award recognised business talent for those under 30 years of age and was sponsored by Northampton-based firm, PBC.

“I’m really happy that my hard work is recognised, I’m fortunate enough to love both my jobs so it isn’t a chore to work hard” continued Fae. “I never think 17 hour days are anything special, until someone points out that’s 2 days’ work for most people!”

The Young Business Person award was presented by Gary Pettit, Managing Director of Northampton-based business PBC, who said “PBC feel it is important to be part of the business community and were pleased to support this award. The economy needs young people in business and Fae is an excellent example”.

For further information on Bond Hair™ visit http://www.bondhair.com