In spite of a reduction* in the number of UK businesses going into administration compared to the same period last year, leading North West law firm, SAS Daniels is celebrating the year-on-year growth of its Insolvency and Corporate Recovery practice.
Since its launch three years ago, the practice has steadily grown from £0 to £380,000 with plans to treble this figure over the next three years under the leadership of Paul Formby.
SAS Daniels’ Insolvency and Corporate Recovery team specialises in all aspects of personal and corporate insolvency and was launched after the law firm identified a gap in the market to support clients facing insolvency issues. It is one of few law firms in Cheshire and South Manchester which offers this expertise.
Contrary to the national trend that’s seeing fewer insolvencies recorded, SAS Daniels’ practice has thrived as it works with clients to find alternative ways to save their businesses, such as a company restructure or a consolidation of the workforce.
Formby, who joined SAS Daniels in 2013 and who was also promoted to Partner in November 2015, said: “I joined SAS Daniels to grow this dedicated service as I was impressed by the firm’s innovative approach to assisting clients and the support it was able to provide to organisations facing difficult financial situations.
“Our growth has come despite a drop in the number of formal insolvencies in the UK which is as a result of banks and other creditors seeking alternate means to recover sums due to them. We have been able to grow the practice area as a result of the firm’s expertise and our relationships with insolvency practitioners and clients who trust us to secure the best possible outcome for them.”
SAS Daniels’ customers include insolvency practitioners as well as companies and individuals who are facing financial difficulties in relation to pre and post insolvency advice.
SAS Daniels offers a full range of legal services to businesses and has offices in Stockport, Macclesfield, Chester and Congleton.