Call: 02476 158234
Call: 02476 158234
Coventry:
Coventry University Technology Park
Puma Way
Coventry
CV1 2TT
Call: 01604 212150
Call:  01604 212150
Northampton:
9-10 Scirocco Close
Moulton Park
Northampton
NN3 6AP

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PBC Business Recovery and Insolvency Offices

What is a Voluntary Arrangement?

Voluntary Arrangements (VA) are not a universal panacea for financial difficulties but they can be a way of resolving your financial issues to the satisfaction of everyone concerned. In this video licenced insolvency practitioner and senior team member here at PBC, Gary Pettit, will explain what a voluntary arrangement is and what it can do. […]

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National Appointment

Gary Pettit of PBC Business Recovery & Insolvency has been appointed as one of the judges for the prestigious SME National Business Awards that take place at Wembley Stadium on 1 December 2017. In response to the appointment, Gary said, “This is truly an honour and a reflection on the reputation of PBC and the […]

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Personal Insolvency Rates – Women Overtake Men

Every quarter the Insolvency Service produce statistics which confirm how many businesses fail, broken down by insolvency type:, liquidations (whether they are compulsory or voluntary) administration or company voluntary arrangements (CVAs). At the same time similar statistics are released for individuals, divided into bankruptcies, debt relief orders or individual voluntary arrangements (IVAs). There are very […]

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UPDATED TOTAL- Charity Walk Completed!

Kym and Jamie completed their 80 mile charity walk for Ronald McDonald Houses earlier this month. They have currently raised £2,047 and have therefore exceeded their amended target of £2,000, which itself was double their original goal. Kym’s daily blogs, reproduced below, provide the highlights of their four days walking:   Day 1 blog: I’ve […]

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Paying by card – know your rights!

Research by the UK Cards Association showed that, in 2016, 77% of national retail sales were made by card. It was also announced in the last few days by the British Retail Consortium that debit card payments overtook cash for the first time, no doubt increased by the use of contactless payment. Most payments by […]

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Ever Decreasing Circles

When you think of Ali Campbell you think of UB40, Shane Filan, Westlife and Martine McCutcheon may bring back memories of “Eastenders”. What they all have in common is being made bankrupt, which goes to prove cash is king. There is an old joke about the husband who did not report his wife’s card stolen […]

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Charity walk only 2 weeks away!

Northampton is within easy reach of London Euston – unless you choose to do it the way Kym Carvell and Jamie Cochrane from PBC are doing it. Spurred on by the excellent support a charity has provided to Kym and her family since Kym’s granddaughter Billie-Marie was born last August, the pair are planning to […]

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Targeted Anti Avoidance Rule

The following is a blog written by Pete Miller of The Miller Partnership which we at PBC felt should be shared to readers of our website. When the details of the Finance Act 2016 were first published, new measures such as changes to the Targeted Anti Avoidance Rule (TAAR), were met with a fair degree […]

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What do you expect from an insolvency practitioner?

Readers will often see phrases such as ‘Provide the best advice, no matter what the fee consequence…’. However, how often do you hear someone add to that, ‘and what it is you want’? Personally, I fail to see how you can receive the right advice without first understanding what you, the potential client, are hoping […]

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Mediate: Do not drag your feet – A warning from the Court of Appeal

Lord Justice Jackson recently delivered a clear message to parties who play for time when agreeing to mediate. ‘In a case where mediation is obviously appropriate, it behoves both parties to get on with it. If one party frustrates the process by dragging its feet for no good reason that will merit a costs sanction’ [Thakkar […]

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Charity Walk announced to raise money for Ronald McDonald House

PBC are pleased to announce the latest fundraiser for Ronald McDonald Houses. PBC chose Ronald McDonald House back in September 2016 as a result of the support they have offered to the family of PBC’s Operations Director, Kym Carvell. Unfortunately, Billie-Marie has had to return to hospital and therefore her parents have returned to the […]

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Be pro-active or accept your fate?

Apart from the obvious frustration, what steps do you take upon receiving the news one of your customers has gone into an insolvency process?  You may have retention of title on stock, it may be a debt write off that is business-threatening to you.   For 30 years The Insolvency Act 1986 has been the […]

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PBC continue to support business

What is your most valuable business asset? I hope most readers will respond along the lines of, “Our employees, of course.” Last year the directors of PBC Business Recovery & Insolvency were delighted to support the Northamptonshire SME Business Awards. In fact, we were so pleased with it that we agreed to support the awards […]

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How creditors will make insolvency decisions after 6 April 2017

Insolvency practitioners are well versed to creditors’ meetings as the way in which creditors make decisions about a company or individual who is insolvent and how the process is managed. However, from 6 April 2017 the profession and creditors will have to get used to a completely new way of operating as a result of […]

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PBC announce payment in full to creditors in a bankruptcy.

PBC are pleased to report a distribution in full plus statutory interest to unsecured creditors in a bankruptcy.   The only asset in the bankruptcy was the debtor’s 50% share in the dwelling property, where his ex-partner resided. His ex-partner expressed an interest in purchasing the estates half share.  However, due to personal circumstances she […]

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PBC announce successful completion of CVA

PBC are pleased to report a dividend has been declared on a company voluntary arrangement (“CVA”) which was successfully implemented. When first approached, Gary Pettit was asked how to place the company into liquidation. However, following advice the directors restructured the business with PBC’s guidance and proposed a CVA to its creditors, which was approved […]

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PBC announce successful conclusion of administration

PBC are pleased to announce the successful completion of the administration of Rowellian Football Social Club which included payment in full to its secured creditor, unsecured creditors (plus statutory interest) and a payment to its members. This has been a highly complex and unusual administration from the outset, including setting a legal precedent. By way […]

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PBC announce large dividend from complex liquidation

Gary Pettit, the liquidator of Alexander – Bale Facilities Management Ltd, is pleased to announce the payment of an unexpected dividend following extensive investigations into the company’s affairs. The company was placed into compulsory liquidation on 21 November 2011 and R Neil Marshman was appointed liquidator on 6 July 2012. Following his retirement from the […]

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‘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.

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Could Brexit affect your pension scheme?

The staff at PBC were recently visited by Darren Toms of Clumber Consultancy to provide a briefing on the latest position on how auto-enrolment and other matters had affected how the pension and insolvency “worlds” interact. During the briefing, Mr Toms raised the issue of the effects of Brexit on valuations of pension scheme liabilities […]

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‘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 […]

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Press Release – Bradford Bulls

Joint Administrators of Bradford Bulls – no purchase concluded and business ceasing to trade   Gary Pettit of PBC Business Recovery, Northampton was appointed one of the Joint Administrators to Bradford Bulls (Northern) Limited (“BBNL”) – in Administration, on 14th November 2016.  BBNL operates the Bradford Bulls Rugby League Club (“Club”), playing in the Kingstone […]

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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, […]

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PBC announce large dividend paid from company voluntary arrangement

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 […]

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Local Entrepreneur Wins Young Business Person Award

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 […]

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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. […]

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Charity Craft Fair raises £420.

PBC would like to thank all those who attended the craft fair earlier this week for their generous donations which have raised £420 for Ronald McDonald Charity Houses.   For more information about PBC’s chosen charity, read here. In addition, PBC would like to thank the stallholders who attended, those who baked cakes and the team at the […]

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That was the year that was

How many of you can associate with the question, ”Where did [the month] go?” In fact, it does not seem that long ago since I was looking back at 2015 to see what PBC had achieved, yet here I am doing it all over again! Obviously 2016 will be remembered for the (Brexit) vote on […]

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Can they touch my pension?

The title of this piece is the question I am asked regularly by individuals who are threatened with personal insolvency and are (understandably) concerned their personal pension may be used to repay creditors. Personal pensions used to be an asset that could be realised for the benefit of creditors. Provided the bankrupt was over the […]

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PBC set new ground-breaking law

On Monday 14 November 2016 at 10.12 a.m. Gavin Bates and Gary Pettit from PBC Business Recovery & Insolvency were appointed joint administrators of Bradford Bulls Northern Limited. They were asked to consent to the appointment just over an hour beforehand. Bradford Bulls are former World club champions and Super League champions but over the […]

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Further Press Release regarding Bradford Bulls

The Rugby Football League and the Joint Administrators of Bradford Bulls agree mutual co-operation to resolve the Bulls’ affairs as swiftly as is possible. Gary Pettit of PBC Business Recovery, Northampton was appointed one of the Joint Administrators to Bradford Bulls (Northern) Limited (“BBNL”) – in Administration, on 14th November 2016.    BBNL operates the Bradford […]

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PBC appointed joint administrators of Bradford Bulls

Gary Pettit and Gavin Bates, Directors of PBC Business Recovery and Insolvency, have been appointed joint administrators of the Bulls. “A club like Bradford Bulls serves the local community and we will be working towards finding a solution that preserves the future of the club while also meeting the requirements of the Rugby Football League […]

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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 […]

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PBC invite you to a Charity Craft Fair

  PBC are hosting a Christmas craft fair in aid of the firm’s chosen charity, Ronald McDonald House.   The craft fair will be held on Tuesday 22nd November from 6:00 p.m. to 8:00 p.m. at PBC’s Northampton office (9-10 Scirocco Close, Moulton Park, Northampton NN3 6AP).   So why not join us for some […]

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Launch Party a great success

PBC would like to thank everybody who attended the launch party to celebrate the merger with Bottomley & Co at the MTC Training Centre in Coventry last week.  Gary Pettit said, “It was great to see familiar faces support the merger, as well as meeting new contacts”. Paul Rogers added, “The magician proved a huge […]

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PBC announce Ronald McDonald as chosen charity

PBC can announce they will be supporting Ronald McDonald as their chosen charity for the year. “To be honest with you”, said Kym Carvell, “until recently I thought Ronald McDonald was a clown dressed in red and yellow associated with a well-known burger chain! I knew there was a charity side but had never really […]

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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.

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PBC announce large return to creditors

PBC are pleased to announce a significant dividend has recently been paid to the non-preferential creditors of Eldean Ironmongery Limited. Earlier this month, the joint liquidators were able to issue a dividend of 61.59pence in the pound to non-preferential creditors, with the amount distributed totalling over £89,500. This had been preceded by full payment to […]

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The financial cost of debt

The title for this editorial is quite deliberate. When companies and individuals are experiencing debt problems there is a non-financial cost consequence.  I am talking about the pressure, stress, anguish and, in some cases relationship breakdowns.  That is the physical cost burden and is often over-looked in the creditor scramble to get paid before any […]

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Can your advisor advise?

Let us start with a question. If a stranger came up to you and asked to borrow your car for a couple of weeks would you simply hand over the keys, walk off and trust the car will be returned in good order?  Hopefully, your answer will be along the lines of “Don’t be daft” […]

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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.

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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.

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So why not administration?

There is never a good time but to do this but on 18 December 2015 the (39) employees of a company in Thetford were given the dreadful news their employer was ceasing to trade with immediate effect. As a result they were all being made redundant forthwith and salaries could not be honoured. Having recognised […]

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PBC expands in Coventry

In some quarters this may be the worst kept secret but officially we can now announce the retirement of David Halstead Bottomley who has been in partnership with Paul Rogers at Bottomley & Co for over 10 years. As regards our new beginnings, we can reveal that, as David bows out, Paul and the team […]

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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. 

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The Castle (Wellingborough) Limited

The joint administrators announced yesterday that The Castle (Wellingborough) Limited is to be placed into liquidation and all theatrical performances and activities have been cancelled with immediate effect. Joint administrator, Gary Pettit, said, “We have been in constant dialogue with the Council, who have supported The Castle over the past few years, but sadly we have […]

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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.

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Goodbye Miss Amos, Hello Mrs Gent!

Everyone at PBC would like to offer their congratulations to Jenny, who married Matt on 2 June, and wish them a long and successful marriage. Jenny’s new email address is jennygent@pbcbusinessrecovery.co.uk    

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Are CVAs viable?

How many High Street retailers can you think of whose name has been confined to the annals of history? I can think of 15 and that excludes the latest to fall victim, being BHS and Austin Reed. BHS entered into a company voluntary arrangement (“CVA”) with a 95% creditor approval. It included landlords of 87 […]

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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.

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