BLB Advisory is going from strength to strength with the opening of its new office in Worcester.
Since first launching in January 2020, BLB Advisory, a restructuring, turnaround and insolvency specialist, has tripled its premises. Initially just being based in Coventry, in January of this year the company acquired Hereford based Star Advise, and this month it expanded to yet another county.
Brett Barton, managing director, said: “I left a national practice behind and opened BLB Advisory to support businesses that I felt weren’t getting the right help they needed. It’s been this focused approach and friendly service that I think has led to us being able to grow so much in such a short space of time.”
Alongside this new opening in The Tything, Toby Holt has also been recruited to oversee the running of the office. Toby, a well-known figure in the local market, joins the firm with more than 30 years of experience in insolvency, much of which has involved advising distressed Worcestershire businesses.
Toby said: “This is an interesting time for our industry with the number corporate failures high on the increase. The past year has been so unpredictable and has seen changes for many organisations. But I’m pleased to have joined a team that always strives to find other solutions when businesses are struggling, with closure really being the last possible option explored.”
In June 2021 alone there were 1,207 corporate insolvencies. This is 63% higher than the number recorded in the same month in the previous year. The trend is also likely to increase further as companies have staff returning from furlough, repayments are now having to be made on Bounce Back loans, and the pressures of self-isolating due to Covid are being felt, notably in the leisure industry.
Brett added: “Toby arrives at a time when Worcestershire businesses are struggling and need prompt expert advice on their options. We are pleased to be able to offer a local presence, with a Worcester base and focus, in a period which is going to be very difficult. We can advise on all the options available for distressed businesses.
“Our new office now means that we have a presence across Worcestershire, Herefordshire, and Warwickshire.”