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A problem shared………by Claire Goodacre

When I talk to my friends or I’m out networking it is often difficult to describe or summarise what I/we at PBC do, or the benefits of an insolvency practitioner.  We are often called vultures or undertakers.  There are many casualties of a company going bust, money is an emotive subject, and every party is a victim of some sort which no-one wants to become.

Before meeting us the ‘directors’ of the companies we meet are bearing the brunt of the pressure and experience high levels of stress.  They are trying their hardest to survive in the best way they know.  It is difficult to make the decision to seek help or admit that it is needed. 

When they do decide to seek advice, this often relieves that stress, even just talking it through and putting things into perspective is a weight off their shoulders.  Last week, Ian Cooke and I met with a director and the change in emotions was visible to see.  Their emotions moved from ‘agitated and uptight’ to ‘relieved’ and more ‘relaxed’ during the time we spent with them. 

Often people forget that financial difficulties could affect all of us and it could be one of many factors that tip that balance from successful and profitable or treading water, to being unable to pay your debts as and when they fall due.  Just one bad debt or loss of major customer amongst other things just a few of the examples.  A director has additional responsibilities and worries, such as ensuring their staff are paid along with adhering to their statutory duties.  They have often put their own cash in to survive, are the first to not get paid and have put their own blood and sweat into a venture only to see it potentially fail.

This is why my advice would always be to seek advice at an early stage.  It may not be as bad as you thought, and if it is, a problem shared is a problem halved in any event.

If you require any advice or assistance on any insolvency-related issue, then please contact PBC Business Recovery & Insolvency on 01604 212150 (Northampton),  01908 488653 (Milton Keynes) or email to  Alternatively, visit for further information.

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