A team of business professionals has launched a new company to help businesses achieve financial recovery without resorting to a formal insolvency process.
Corporate Resolve LLP, which is based in Harrogate, is the brainchild of Tony Armitage, a leading independent adviser on turnaround and corporate recovery, and property expert Simon Padgett, whose experience focuses on retail and investment developments and asset management across a number of sectors.
Mr Armitage said: “It is clear that formal insolvency is an expensive and wasteful process and there is a better way forward for companies who are in financial difficulties or have lost their direction.
“They need advisers who can offer a value-added service that is market-focused, timely and provides practical advice and solutions. With this objective, we have formed Corporate Resolve LLP to offer a new and effective way of delivering business recovery techniques that enable clients to mitigate threats and identify opportunities to improve the financial prospects for all stakeholders.”
The firm, which typically advises businesses with turnover of between £5m and £25m, has already got off to a flying start, advising a client on the acquisition of a business with a £20m turnover.