PCR are delighted to be nominated as finalists for the upcoming TRI awards ceremony at the Hilton London Bankside Hotel on 6 November 2018. The category we have been chosen for is Corporate Restructuring Firm of the Year - 4 to 10 licensed appointment.

At PCR, we continuously strive to go above and beyond to deliver a quality service for financially challenged businesses, so we are delighted to be recognised for our efforts. We would also like to thank everyone at PCR for their continuous ongoing hard work and support, and this recognition would not have been possible without the entire team's contribution.

Well done team PCR!

Ahmed Ali
Practice Development Executive 

It was well documented at the start of the year that Carillion had filed for bankruptcy after it had accumulated spiralling debts, seeing its stock market value plummet by 90 percent. The period leading up to the collapse saw various profit warnings in 2017, leading to a reported loss of £1.15 billion in that year.

The predicament Carillion now finds itself in is perhaps not entirely surprising for business experts who had been keeping a close eye on proceedings following several worrying signs, even before its eventual downfall. PCR had highlighted a few conspicuous reasons for the collapse such as Carillion’s riskier contracts and payment delays in the Middle East. In addition to the above, Carillion had also amassed a £587million pension shortfall - key elements in its eventual demise.

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On Thursday 6th September 2018, PCR took to the seas for a day of sailing along the Solent from Port Hamble Marina. Teams of 8 were assembled for each of the two Beneteau 40 yachts for the day.

After a rather pleasant morning on the river, and a spot of lunch on-board, it was time for some competitive sailing and a race to the finish line. Team Lancelot II V team Arthur - with team Lancelot II finishing in first place, winning by a matter of seconds to beat team Arthur (sorry boys, 2-1 to the ladies).

We were lucky to have had glorious sunshine which made the day all the more pleasant. A big thank you to all those who were able to make it. We'll leave you with a few photos to enjoy from what was a thoroughly enjoyable day.

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On Thursday 25th October 2018, PCR will be holding a joint seminar with Heald Solicitors in Milton Keynes about the advantages of purchasing a solvent and insolvent business. We will also be discussing some of the associated risks and benefits regarding purchasing both, and how buying an insolvent business may not be such a bad idea after all.

Purchasing a solvent business can be an expensive acquisition, whilst buying an insolvent business is a cheaper alternative with many advantages that you may not have been aware of.

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The early bird catches the worm!

At PCR, one of the most important messages we try to project to business owners and company directors is to seek professional and regulated advice early in the event of any cashflow issues. Unfortunately, many businesses choose to ignore such advice until it’s too late. We’ve witnessed first-hand countless companies approaching us at a late stage hoping for a miraculous solution to save them from potential disaster. However, the longer you leave it to seek professional advice, the more difficult it is to achieve a successful turnaround.

You MUST seek professional and regulated advice early if you are worried about your company’s finances!

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