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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We are pleased to announce that Danny Allen, Licensed Insolvency Practitioner, has become Partner at PCR with effect from 1 July 2018.

Danny, who has been in the industry for 18 years, has a wide range of experience in both personal and corporate insolvency with particular specialisms in property, construction, engineering, online business and media. Danny becomes our fifth partner at PCR and is based in our Kent office, having been a resident there for over 15 years.

At the back end of last year, PCR reported on the rise of Corporate Insolvencies, citing several factors as possible contributors. This included rising business rates, an increase in inflation, the weaker pound and a rise in the national living wage. Hardly a surprise then to see that any business operating on the edge would be severely impacted by any one of those factors.

Earlier in the year, it was well documented that some high-profile names such as Carillion, Maplin and Toys R Us were facing severe financial difficulties affecting their ability to continue to trade, with the latter two closing all their stores with immediate effect. More recently, House of Fraser had announced a major restructuring programme aimed at rejuvenating the company with several store closures, including the closure of its flagship store in Central London. In addition, high street retailers such as Dixons Carphone and Mothercare have reported store closures, whilst it was announced only last week that there were to be over 4,000 job cuts at Rolls-Royce.

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