Call: 01234 834886
Call: 01234 834886
Bedford:
Suite G35, Bedford i-Lab
Priory Business Park, Stannard Way
Bedford
MK44 3RZ
Call: 01604 212150
Call:  01604 212150
Northampton:
9-10 Scirocco Close
Moulton Park
Northampton
NN3 6AP

Home » Articles posted by PBC Business Recovery & Insolvency Ltd

Author Archives: PBC Business Recovery & Insolvency Ltd

‘Zombie’ companies on the rise – what are the implications?

The number of businesses in the UK that are trading but only making the interest payments on their loans has increased according to research conducted by insolvency trade body R3.

Read More...

‘Living beyond means’ – a leading cause of bankruptcy

Recent statistics released by the government showed the leading causes of bankruptcy in 2015 were living beyond means, relationships breakdowns and reduced levels of income. The data also highlighted differences in the reasons why men and women go bankrupt. Gavin Bates, Insolvency Practitioner at PBC, said: “These figures are similar in some respects to the […]

Read More...

A look at personal guarantees

A recent survey by Wirefund revealed that over half (55%) of SME business owners do not know what a personal guarantee is. This certainly matches our experience at PBC as we see many cases where company directors cannot remember whether they signed personal guarantees or not.   What is a personal guarantee? In the last decade, […]

Read More...

How to avoid a Christmas cash flow crisis

While some businesses, particularly in the retail sector, find that Christmas is their busiest time of year, for others it can be a difficult period. Factors such as lower levels of production due to increased holiday, decreased sales and, in some instances, total shut down for a week or two, can all have an impact. […]

Read More...

Why it’s important to check your credit report

Recent research revealed that more than 2000 county court judgements (CCJs) are made every day, often without the knowledge of the individuals and families receiving them. A CCJ is made when someone takes court action against an individual, saying they owe them money, and the individual doesn’t respond. These orders play a key part in […]

Read More...

Is your business struggling with debt?

Many of the business owners we meet with are struggling under the weight of growing debt. Recent research has shown that late and non-payment continues to be an issue, alongside access to funding and internal issues relating to how the company operates and its approach to cost and credit control.

Read More...

What steps should a director take if their Company is nearing Insolvency?

It is very common for directors to seek advice from us when their Company is edging towards insolvency. At PBC we have many examples where that advice was taken, and consequently, our services were not required.

Read More...

SMEs and Brexit- Some key concerns

If you are concerned about the impact of Brexit on your business, here are some matters to think about to put your business in the strongest possible position during the months of uncertainty that lie ahead.

Read More...

Reasons for bankruptcy differ between men and women

Insolvency body R3 recently released research that showed significant differences in the reasons why men and women enter bankruptcy. 

Read More...

Solvent liquidations

Recent research by insolvency body R3 showed that a record number of solvent companies were wound-up in March 2016, and this trend is certainly reflected in the work we undertake at PBC. In fact, in the last 18 months, the Members’ Voluntary Liquidations (MVL) we have been involved with have paid £20,591,420 to shareholders alone.

Read More...

PBC Business Recovery & Insolvency proudly sponsor the SME Northamptonshire Business Awards 2016

PBC Business Recovery & Insolvency is sponsoring the sought after Young Business Person of the Year category at this year’s inaugural SME Northamptonshire Business Awards.

Read More...

The most common reasons why businesses fail

  When you are starting a business, it almost seems counterintuitive to focus on failure, but with research showing that over half of small and medium-sized enterprises don’t survive more than five years, it stands to reason that if you are aware of the most common downfalls, you’ll be more likely to avoid them.

Read More...

Important Changes to Members’ Voluntary Liquidation and Capital Distributions

  Over the last 3 years or so corporate recovery and insolvency has been very quiet. I appreciate not many people will be too disappointed by this news. However, during the same period, we have experienced an upturn in Members’ Voluntary Liquidations (MVL’s) or solvent liquidations.

Read More...

Top tips on how to improve your credit score

  A good credit score is important for anyone to have. A poor rating can have a dramatic impact if you are seeking any form of financial assistance, whether it’s a mortgage, credit card or loan, or even a mobile phone contract.

Read More...

PBC opens new office in Coventry

PBC Business Recovery & Insolvency is pleased to announce the opening of a new office in Coventry.

Read More...

Beware of accelerations

It seems an age ago now but when Glasgow Rangers Football Club went into administration there were a number of major issues that arose.  One of those surrounded an Employee Benefit Trust (“EBT”) where players and staff were paid collectively almost £48 million in tax-free loans.

Read More...

Top Bookkeeping Tips

Maintaining accurate financial records is an essential part of running a business.  It is important to establish a system that works for you and that can be managed with ease, to ensure you are always on top of your finances.

Read More...

Clocks forward or clocks back?

The month of October attracts one of the regular questions, “Do the clocks go forward or back?”  This year, 1 October also brought in a raft of legislation where a similar question must be asked whereas do the amendments or new items of legislation take us forward or return us to previous ways of working.

Read More...

Corby in the top 10 local authorities for personal insolvency

Corby in Northamptonshire is in the top 10 local authorities with the highest individual insolvency rates, figures from the Insolvency Service have revealed.

Read More...

Problems in bringing solvent liquidations to a conclusion!!

Members’ Voluntary Liquidation (MVL’s) or solvent liquidations as they are commonly called, have been very common over the last few years.

Read More...

A time of celebration

  At PBC there is a belief that individual team member progression is key to future success. With this in mind, the directors would like to announce how delighted they are for Jenny Amos who has passed the Certificate of Proficiency for insolvency with merit.  It is a great result and is indicative of that […]

Read More...

Female insolvency overtakes male for the first time

Figures from the Insolvency Service released in July have revealed that in 2014, for the first time, female insolvency rates have overtaken male insolvency.

Read More...

PBC Appointed as Administrators of Joining The Dots Distribution Limited

Gavin Bates and Gary Pettit of PBC Business Recovery and Insolvency (PBC) were appointed as joint administrators of Joining The Dots Distribution Limited on the 26 June 2015.

Read More...

How to choose the right accountant

Selecting the right accountant is a vital business decision.  A good one can help a business save money and grow, while a bad one may do the opposite. However, deciding which accountant to work with can be a bit of a minefield.  Here are our top tips to help you make the right decision.

Read More...

Life and death

Planning for succession should be in the thoughts of everyone in business from early on.  After all, what is to happen to your business when you decide it is time to retire?   In other words, what is your own exit strategy when either you have attained your goal or age has finally caught up […]

Read More...

Top cash flow tips for SMEs

  One of the most crucial aspects of running a business is maintaining a healthy cash flow.  After all, if a business can’t pay its staff and suppliers it can’t operate, regardless of how much it is selling or the size of its profit.

Read More...

Top reasons why a business plan is essential

Too often, business plans are only thought of in relation to obtaining funding for a business.  In fact, a business plan is much more than that. It is a valuable tool for every business owner from start-ups and those looking to grow, to those that have been in business for years. Creating a business plan […]

Read More...

Bad debts for SMEs – what are the early warning signs?

Although the economic situation is improving, SMEs should be doing more to protect themselves from bad debt and late payments from customers.

Read More...

Changes To The Personal Insolvency Market

The government has recently announced changes that will affect the personal insolvency market from October 2015, making it easier for financially vulnerable people to access debt relief.

Read More...

Do you argue or debate?

Are you embroiled in a dispute with another party? Do you feel it is heading nowhere but to the court? The obvious problems with court intervention include the uncertainty and costs. What is even more frustrating can be on disclosure of evidence you find the whole matter could have been resolved at far less cost […]

Read More...

2015 – A year to sort your finances?

As the year continues to progress it is not uncommon for us to start to receive a number of calls from individuals who are in financial distress. With this in mind, it seems like a good time to provide some advice on how people may be able to help themselves. These include:

Read More...

City Link – In what order do the creditors get paid?

As you probably saw over the Christmas period, Citylink became the latest high-profile insolvency to hit the headlines. As someone who has spent most of their professional life working in insolvency, I suppose I should be used to it. However, I still find myself surprised at the lack of understanding of the practical and legal […]

Read More...

Landlord liability post disclaimer of lease

Landlords have been experiencing a rough time of late with both the introduction of the Commercial Rent Arrears Recovery provisions and court rulings on various issues surrounding landlords and tenants. It is a common occurrence that a liquidator will disclaim a lease under section 178 Insolvency Act 1986. A disclaimer does not prohibit a landlord […]

Read More...

Plan now for Christmas – Part 1

Plan now for Christmas and avoid worrying about the bills in the New Year!!! The festive season is on the way and unfortunately this can often lead to a number of calls to insolvency practitioners from individuals in the New Year as the bills roll in.

Read More...

Dividend And Overdrawn Directors Loan Accounts – Directors Beware!!

Over the last 3 to 4 years we have noticed an increase in the number of cases where there is an overdrawn director’s loan account or dividends have been drawn illegally. Now it is understandable that directors wish to be remunerated in the most tax effective way and commonly they will be advised to pay […]

Read More...

Office Christmas Party? You Must Be Crackers.

Have you every wondered what the point of the company Christmas party is? When you get right down to it most of us put on a ‘do’ every year but is it actually appreciated? Or are we just doing it out of duty? There is a sense of tradition in the office party I suppose. […]

Read More...

Prevention Not Cure – 6 Signs Your Business May Be In Financial Trouble.

There is an old saying ‘prevention is better than cure’ and it is one that rings very true for the financial stability of your business. At Marshman Price we see businesses of all sizes in various stages of financial difficulty and it is never easy to pinpoint a particular time when things started to go […]

Read More...

Credit Control – Starting A Culture Of Collection

We all know that prompt payment of your outstanding invoices is key to maintaining solid cash flow. I think we are all also aware of what happens when our outstanding invoices don’t resolve into income as expected. At best this costs time and money in chasing and credit control, and at worst it can cause […]

Read More...

So, what went wrong?

“If you fail to plan then plan to fail”. A well-known phrase that everyone in business should have hanging in a prominent place as a reminder that operating a business carries risk as well as reward. Nobody takes that brave leap into being self employed thinking their business will fail within the first two years. […]

Read More...

There is nowhere to hide

It seems everyone enjoys a good quiz so, question 1. Here are the names of some well known celebrities: Gary Barlow Jimmy Carr Chris Moyles Gabby Logan What do they have in common? The answer? They have all been accused by HM Revenue & Customs (“HMRC”) of entering into tax evasion schemes and could face […]

Read More...

Saving your business!

The instant you feel uncomfortable about the financial situation of your business, ask for help – that’s the unbiased advice from Northampton-based business rescue and insolvency experts, Marshman Price. Why? Because there are at least 3 ways a business can be given time to restructure that should benefit everyone concerned – from the company’s shareholders […]

Read More...

A time for Businesses to celebrate

Following the announcement that the highly respected insolvency and recovery firm, Marshman Price had been acquired the new directors held a launch party on 23 January at Cheyne Walk Club, Northampton to celebrate. Over 100 business people from across the County (and beyond) attended in order to share the celebrations with Gary Pettit, Gavin Bates, […]

Read More...

Landlords lose out again?

You are juggling funds in a manner best suited to hold off creditors and to stop legal proceedings being instigated or continuing. Suddenly and without warning a colleague informs you an enforcement officer has arrived to seize goods under a landlord’s distraint for rent arrears. There have been no legal proceedings and the enforcing officer […]

Read More...

A record new year

Arguably one of the burdens of business ownership is the maintenance of company records. This is certainly more prevalent with small (usually) family owned businesses where every so often you have to sit down and bring your books and records up to date. Unfortunately, there is a worrying trend where I am asked for urgent […]

Read More...

The involuntary creditor

On a majority of occasions business people tell me they have a good business but are suffering from temporary cash flow problems. Almost as an after thought they mention there are tax or VAT arrears and HM Revenue & Customs (“HMRC”) are threatening some form of recovery action, usually winding up or bankruptcy. Since September […]

Read More...

A fool with a pen in their hand!

The heading pretty much sums up my view of a director who grants a personal guarantee for company debts. I am possibly being a little harsh as giving a personal guarantee can sometimes be a non-negotiable term of contract or borrowing. In the past I have seen directors who have guaranteed practically every supplier, making […]

Read More...