The sale of Berks Healthcare was advised by Wilson Field

West Midlands business turnaround office success

Authored by Phil Meekin

Phil Meekin

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The West Midlands office of Wilson Field has exceeded the £1m fee income figure for the second consecutive year in its five-year history, highlighting the importance of professional contacts to its success.

Fee income at the Solihull office, which specialises in insolvency and business turnaround options for all types of companies, grew in the year; it handled multiple administration jobs for the retail, manufacturing and transport sectors.

Since inception, the Solihull office, based on Central Boulevard, Blythe Valley, has recorded more than £3m in fee income and anticipates business in 2017 will hit the £1.5m mark.

Neil Jeeves, senior consultant and sales director for West Midlands, South West and Wales at Wilson Field, said;

“Usually a business in this industry takes a while to gain traction in the market, but we have totalled more than £3m since from a standing start in 2011 and broken the £1m mark both in 2015 and 2016.

“I am extremely proud of what we have achieved. I came to work for Nick Wilson, the managing director here. He is an honest business owner. He and the team here have worked tirelessly to grow our base.”

Solihull Wilson Field

Neil, who joined Wilson Field five and a half years ago, added;

“The number of personal and company insolvencies in England and Wales has been in decline for some years, but Wilson Field has bucked the trend by diversifying its financial offering to meet the changing needs of businesses seeking help when they face difficult times.

“We work with a number of introducers, including solicitors, accountants and interim finance directors and all our work comes through referrals. People recommend us.”

Jobs brought in by the Solihull office have come from a cross-section of business. Including 80 jobs saved at 40-year-old Statestrong Ltd, which manufactures and supplies aerosol and liquid products for use in health and beauty, household, automotive and industry globally. The sale of 134-year-old Silcox Coaches to a new owner transferring 50 jobs, and the sale of cutting-edge thermal imaging equipment manufacturer as a going concern to a group of investors.

“I want to get the word out that Wilson Field doesn’t just “bust” companies. We aim to put directors at ease and work with them to find the best solutions, not just to save their business but to help it prosper in the future. This results in a better outcome for all concerned – the creditors, the staff and the owners themselves. It’s win all-round.”

Managing director Nick Wilson, added;

“The market for personal and company insolvencies is shrinking, but I still anticipate growth going forward. We are in a good position to get a larger share of the local and regional market.

“Our professional reputation amongst our business introducers is high and the corporate market continues to be our target, but we are eager to help sole traders and micro-businesses with their problems.”

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