Our Insolvency Practitioners’ Review of 2019
2019 was a Busy Year for the Licensed Insolvency Practitioners at Antony Batty & Company
Founded in 1997 as an independent firm of insolvency practitioners and business recovery specialists, 2019 was our busiest year yet. We acted on 182 insolvency procedures – delivering a ‘big 4’ level of service at sensible prices – increased our number of Licensed Insolvency Practitioners from 4 to 6 and welcomed 4 new full-time members of staff to our growing team. In this article, we look in a bit more detail about the year we have just had and predict more of the same in 2020.
Our Insolvency Practitioners were appointed on 182 Insolvency Procedures in 2019
The figure in 2017 was 101 and in 2018 it was 164. So, our performance in 2019 represented growth of 80% over 2017 and 11% over 2018. The split was as follows:
- Company Voluntary Arrangements = 6
- Individual Voluntary Arrangements = 4
- Administrations = 22
- Bankruptcies = 11
- Creditors Voluntary Liquidations = 79
- Members Voluntary Liquidations = 49
- Winding up by the Court = 11
Our clients appreciate the quality of service that we give, as shown by the testimonials that we receive. Likewise, where we can, we always aim to save businesses and jobs through restructuring, as the following testimonial shows.
In November 2019, The Entrepreneurs Circle successfully came out of its 5-year Company Voluntary Arrangement, administered by our London Team, headed up by Antony Batty and John Baalham. The business was returned to profitability, saving 40 jobs in the process.
Nick Botterill, director and owner had this to say about our work:
“Four years ago, if it wasn’t for Antony Batty and his team, I would have lost my business and over 40 staff would have lost their jobs.
We hit a major financial problem with half a million pounds of missing money, and I couldn’t see a way out. But Antony explained a Company Voluntary Arrangement to me and suddenly there was a light at the end of the tunnel.”
New office and employees in 2019
On December 2nd 2019, we opened our latest new office – this time in Croydon, headed up by Steve Illes. In addition to our central London HQ, our other offices are in Brentwood (Essex), Salisbury and the Cotswolds, which gives us a good footprint in the South and South East and up into the Midlands.
In 2019, we welcomed four new full-time employees:
- Steve Marshall. Steve is an experienced Licensed Insolvency Practitioner who heads up our Brentwood office. Along with Partner Steve Illes, who became a Licensed Insolvency Practitioner in July 2019, we now have 6 Licensed Insolvency Practitioners.
- Lauren Matlock – Case Administrator. Lauren joined Antony Batty right at the end of 2019, with 8 years of experience in insolvency. She is currently awaiting her Certificate of Proficiency in Insolvency (CPI) exam result, after which she will consider starting to study for the Joint Insolvency Examination Board (JIEB) qualification
- Charlie Mercer – Reception/Office Junior. Charlie joined us in July 2019 and works front of house and is training to be a junior administrator
- Jessica Barrow – Office Junior. Jessica joined us in July 2019, straight after completing her A levels, and is looking forward to building her career in insolvency.
Now we look to the challenges that 2020 will bring. There has been much uncertainty in the economy for some time now, with some of the key causes being Brexit, and the continuing problems being faced by traditional retailers on the high street. Plus we will soon find out the answer to one of the biggest questions in insolvency when the Chancellor delivers his budget on 11th March. Will Entrepreneurs’ Relief be scrapped?
Whatever 2020 brings, our aim is to be here for businesses and individuals for ‘when it isn’t business as usual.’ So, if that’s the case with your business right now, contact us or call us on 0208 088 0633. As always, the initial consultation is free.