It has been widely reported that numbers of public houses in England and Wales are contracting at an astonishing rate, with an estimated 6 closing every day for good. The pressures on the industry vary depending on which landlord you ask – some will cite the smoking ban as being the start of the rot, others will talk about steadily increasing taxes and a habitual change in the community generally that has moved away from the casual stop off for a “quick pint” of an evening in favour of the more cost effective trip to the supermarket.

The rise of Micro Pubs, particularly in the Kent region, is a sort of reaction to this - community based establishments springing up in disused railway arches and retail units that have been standing empty mean low overhead costs and the ability to offer a discounted pint.

However, one thing landlords will generally agree on is that the revaluation of way in which Business Rates are to be calculated from 1 April 2017 is not going to do the industry any favours.

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Following the UK’s decision to leave the EU, Britain’s top brewers have warned that the weak pound is putting the craft beer revolution at risk. With no clear Brexit strategy in place right now, the dark cloud continues to linger over future trade agreements.

With around 200 new breweries a year adding to the choice for drinkers, the country’s brewing industry has certainly been enjoying a fine renaissance. However, for small-scale brewing, it is not so “plain-sailing” as they start to feel the effects of Brexit, particularly with the soaring prices of imported ingredients and equipment.

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PCR are delighted to announce the launch of our new office in Kent. With offices; already in London, Milton Keynes, Sussex, Bristol and Newcastle, our Kent office is located at The Joiners Shop – a Scheduled Ancient Monument situated at the heart of Chatham’s world-famous Historic Dockyard.

This extraordinary building has a long and eclectic structural history, having undergone numerous alterations and additions over the last 200 years. The Kent office is being led by Danny Allen, who has been a resident in Kent for 15 years, and who has 17 years of experience in insolvency.

Our key operational areas include:

  • Corporate Restructuring: group/company re-organisations; financial restructuring; debt advisory services; exit strategy planning; solvent liquidation (MVL).
  • Advisory Services: Cash flow management; business plans; sales ledger management and credit control; finance raising.
  • Corporate Recovery; Insolvent restructuring; administrations; company voluntary arrangement; liquidations.
  • Personal Insolvency: IVA; bankruptcies; personal debt management.

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More than 70 jobs have been preserved at Accordial Group Holdings after their trading companies Accordial Wall Systems Ltd and Accordial Manufacturing Ltd were placed into administration. The Hertfordshire and Leicestershire based company, which manufactures and installs bespoke walls and partitions systems, was experiencing severe financial difficulties before a corporate rescue process essentially rescued the company from the brink of collapse.

A notice to appoint administrators was recently filed and following talks with prospective purchasers, a sale of the company’s business and assets was achieved in early December 2016. PCR Insolvency practitioners Mark Phillips and Julie Swan, partners at the insolvency firm, were appointed as joint administrators by the board of directors and conducted the sale. This achieved the continuation of the business and safeguarded the staff at sites in Hertfordshire and Leicestershire.

Mark Phillips of PCR said “We are delighted that we have been able to help retain the continued employment of staff following our appointments, as well as providing the best positive outcome for its creditors”.

Download this Press Release as a PDF

Ahmed Ali
Practice Development Executive

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Since 6th April 2016, the Insolvency Law reporting process has witnessed a major overhaul because of various amendments to Insolvency Law by the Small Businesses Enterprise and Employment Act of 2015. For Insolvency Practitioners, the system is supposed to be more user friendly and smoothen the reporting process on the conduct of directors. So, has the revamp of the new system really benefitted the reporting process for the Insolvency Practitioner? Quite frankly, we think not and here is why.

Under the old system, an Insolvency Practitioner was required to submit a report to the insolvency service which was used to raise concerns about a director’s conduct in the period leading up to insolvency. The Insolvency Practitioner had 6 months to submit the report from the relevant appointment date to discharge their statutory obligations. Additionally, the Secretary of State had two years from the relevant date to bring any disqualification proceedings.

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