Fee income has almost doubled to £1m at business turnaround specialist Wilson Field which is celebrating its most successful year in the West Midlands.
The company, which launched an office in Solihull in 2011 helping employees and companies across the region face a new future, has seen business in the region go from strength to strength.
The growth seen at our West Midlands office is testament to the hard work of Neil and his colleagues. It is also indicative of the nature of Wilson Field’s growth plan
Total fee income in 2014-15 was £1m, compared with around £600,000 the previous year. Bosses have highlighted trusted teamwork from staff, increased reputation, better networking and brand recognition bringing about higher value contracts.
Its strong team, backed by colleagues at Wilson Field’s headquarters in Sheffield, has excelled whilst the whole industry has seen a shrinking market.
As the economy sees recovery, many other insolvency firms have reported significant reductions in income. There has been some redundancies and some have been bought or forced out of business.
Neil Jeeves, who heads up the Solihull office of Wilson Field said; “At a time when many of the region’s insolvency practices have actually seen redundancies we have experienced exceptional growth.
“Where we have been able to capitalise is through a strong portfolio of skills and the backing of a broad team, which has a wealth of commercial and financial experience and a trusted track record in sales and business development.
“We are always looking at ways to expand and improve our offer and we excel in our aim of helping businesses in their most difficult times.
“The whole Wilson Field group has been very successful despite operating in a shrinking market as the economy recovers. Turnover for the group has continued to increase and West Midlands office has made a significant contribution to that result.”
Wilson Field, which specialises in business turnaround and refinancing, historically dealt with small and medium sized businesses. Its reputation has more recently attracted larger assignments in the SME sector; with administrations of notable companies ranging from manufacturers to construction companies, hotels to hauliers.
Neil added; “Latest research shows that in the past year Wilson Field helped to save more than 2,100 jobs and 190 businesses across the UK as well as returning in excess of £9.8m to creditors nationwide.
“We have followed a strategy of organic growth – using retained profits to fund expansion. The company doesn’t have a trading overdraft which means we are not vulnerable to outside financial pressures and are in an excellent position to grow. Our plan is to continue on this path.”
Operating from its headquarters in Sheffield, Wilson Field counts offices nationwide. They are manned by financial consultants and licensed insolvency practitioners. In addition, our office in Durham serves as the latest of its regional growth locations.
Nick Wilson, managing director at Wilson Field, said; “The growth seen at our West Midlands office is testament to the hard work of Neil and his colleagues. It is also indicative of the nature of Wilson Field’s growth plan, which has seen us expand across the UK.”
Wilson Field has driven an aggressive growth plan since its creation in 2001; we help companies to continue trading when faced with financial difficulty. So in cases where the business is unable to continue trading, can act in an administrative capacity.