Insolvency statistics for Q3 2023 released this week show that overall, company failures are 10% higher than in the same period in 2022. The construction industry…
Two experienced licensed insolvency practitioners have joined PKF Francis Clark, as we invest in expanding our business recovery team to help businesses through the recession.
The appointment of associate director Mark Roach in Bristol and director Michael Hall in Truro brings to five the number of insolvency practitioners at the South West’s largest independent firm of chartered accountants and business advisers. Supported by a strong team, they pride themselves on the rapid analysis of often complex and urgent circumstances and providing good quality advice with a focus on rescuing businesses, working with all stakeholders and avoiding formal insolvency where possible.
We’re investing in growing our team, with experts on the ground across the region, in order to help businesses through the difficult times ahead.
Mark has over 30 years of experience in dealing with businesses in financial difficulties, from larger mid-corporate entities to partnerships and sole traders in sectors including IT, manufacturing, professional practices, leisure, hospitality and care homes. He previously worked at a large national accountancy practice and, more recently, a boutique restructuring firm, before taking a year out to fulfil a lifelong ambition of travelling the world.
He said: “Having enjoyed working with some of the team here in the past, I felt that PKF Francis Clark’s ethos would be a good fit for me because what I enjoy about my job is helping people to secure the future of their businesses. I believe it’s important to invest time in supporting clients amid what is a very difficult economic climate, and that we can really add value with good advice.
“Going through a formal insolvency process can be a very emotional experience for a business owner, so I’ve always taken a holistic, hands-on approach to helping them through it. This way of working is one of the things that attracted me to PKF Francis Clark, along with the friendly culture and the value the firm puts on people’s work-life balance.”
Michael, who is currently the only licensed insolvency practitioner based in Truro, has over 20 years of experience in finance, accounting and restructuring. He specialises in providing bespoke rescue solutions for SMEs across a variety of sectors, including retail, hospitality, manufacturing, consultancy and construction.
He said: “Having recently moved to Cornwall with my family, I’m looking forward to being part of the community and building relationships with other professionals, including other accountants who want the best for their clients but don’t have the specialist expertise in-house to advise on restructuring.
“PKF Francis Clark has a strong reputation in the region, with a wealth of local and technical knowledge, and I’m excited by the opportunity to help grow our team here in Truro. I believe in being approachable and taking a practical and commercial approach to exploring all rescue options, and where rescuing a business is not possible, making the insolvency process as straightforward as it can be.”
Lucinda Coleman, partner and head of business recovery at PKF Francis Clark, said: “Mark and Michael bring many years’ experience of acting to achieve the best possible outcomes for business owners, employees and creditors, so I’m delighted they have joined us.
“We’re investing in growing our team, with experts on the ground across the region, in order to help businesses through the difficult times ahead. With proactive advice, it’s often possible to secure the future of distressed businesses, so we always encourage directors to seek advice as early as possible if trading is deteriorating. The sooner you act, the more options you are likely to have.”
Established in 1919, PKF Francis Clark has nine offices throughout Cornwall, Devon, Somerset, Dorset, Wiltshire, Bristol and Hampshire. The firm has 55 partners and over 800 members of staff, with annual revenue of £52 million.
Find out more about PKF Francis Clark’s business recovery team.