Leonard Curtis overtakes Begbies as top insolvency administrators

LEONARD CURTIS was appointed to more insolvency cases than any other firm in 2013, overtaking KPMG and Begbies Traynor, according to London Gazette data.

In the Top 20 firm appointments for insolvencies Leonard Curtis lead the table with 129, followed by 116 for Begbies Traynor and 105 from Duff & Phelps, (see chart below).

Last year, the top three consisted of Begbies Traynor with 148 appointments, 129 from KPMG and 111 from Leonard Curtis.

Zolfo Cooper administrators were appointed to 101 cases in 2012, but failed to appear on the table in 2013. FRP Advisory climbed three places to fourth and KPMG slipped to fifth.

The figures were compiled by Geoff Swire based on all London Gazette notices. Insolvencies have dropped in the last year among the Top 20 with 1,246 in 2013 compared to 1,482 in 2012.

Neil Bennett, Leonard Curtis managing partner said: “The latest figures are testament to our depth of services and our innovative and reactive staff.”

Total administrations across all sectors is down 11% according to research by Deloitte. According to the Big Four firm, there were 1,629 administrations in total in 2013, compared with 1,833 in 2012. In particular retail administrations were down 6% to 183 in 2013.

Sectors which saw a particular decrease were property and construction with a 17.5% decline, hospitality and leisure 17.5% and 4% in manufacturing. However, outside of retail healthcare and social services saw an increase of 7%.

Lee Manning, restructuring services partner at Deloitte, said: “The high street has undergone a re-balancing, and this is what is being reflected by these figures.

“Christmas trading appears to have been reasonable, though not spectacular as customers opted to stay away from the high street in favour of click and collect. It is essential that retailers address the fundamental issues affecting the industry. 2014 is likely to be marked by further closure programmes, both within and outside of formal insolvency processes.

To view previous years’ tables, click here.