Partner Article

Begbies Traynor Group performing ‘below market expectations’

The business recovery and property services consultancy, Begbies Traynor Group has reported that due to an 11.3% reduction in corporate insolvencies, it will perform ‘below market expectations’.

The declining market has impacted the group’s trade however it has continued to strengthen its position within the market via insolvency acquisitions.

The board continue to manage the group’s costs to reflect the lower levels of activity and report that the acquisition of Eddisons, the property consultancy is beginning to realise the expected revenue.

The update follows an acquisition in Yorkshire and an expansion to larger offices in Newcastle.

Executive chairman of Begbies Traynor Group, Ric Traynor, said: “Whilst it is disappointing to have seen a further decline in the overall insolvency market in the UK, we have maintained our market-leading position and have taken action to align our cost base to current activity levels.”

“We have made good progress integrating Eddisons into the Group and we are already starting to realise the synergies that the team’s expertise brings to the Group’s core insolvency practice.”

This was posted in Bdaily's Members' News section by Sophia Taha .