Begbies snaps up P&A Partnership in pre-pack deal

Begbies snaps up P&A Partnership in pre-pack deal

Begbies Traynor acquires trade and assets of The P&A Partnership out of administration in a pre-pack deal worth of £860,000

INSOLVENCY specialist Begbies Traynor Group has acquired the trade and assets of The P&A Partnership out of administration in a pre-pack deal worth of £860,000.

Under the deal, 36 P&A staff will join the Begbies, including three former key directors, to combine with its existing team of 47 insolvency professionals in Yorkshire.

Based in Sheffield, P&A was founded in 1875 and has grown to become a significant regional provider of business recovery and insolvency services together with providing commercial finance broking, asset recovery, creditor and asset based lender support services.

Ric Traynor, executive chairman of Begbies, commented: “The acquisition of P&A’s team and cases further enhances our position as the UK’s leading independent insolvency practice. In particular, its strong regional presence and team will position Begbies Traynor as the leading appointment taker in Yorkshire and will bring additional strength in asset based lender and creditor services.”

Begbies has been hit by difficult trading conditions with fewer firms going into administration. In July, the firm revealed that pre-tax profits plunged £2.4m for the year to the end of April, well down on the £5.5m in the previous year. Its revenues were also down by a double-digit fall (10%) to £51m.

Related Articles

BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

8m Emma Smith, Managing Editor
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

11m Alia Shoaib, Reporter
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

12m Alia Shoaib, Reporter
BDO promotes 1,110 people

Accounting Firms BDO promotes 1,110 people

1y Alia Shoaib, Reporter
BDO strengthens Bristol team with new audit partner

Accounting Firms BDO strengthens Bristol team with new audit partner

1y Austin Clark, Reporter
284 new trainees join BDO

Accounting Firms 284 new trainees join BDO

1y Alia Shoaib, Reporter
Deloitte rises in auditor rankings with most FTSE 250 clients

Accounting Firms Deloitte rises in auditor rankings with most FTSE 250 clients

1y Alia Shoaib, Reporter
Partner joins BDO from KPMG

Accounting Firms Partner joins BDO from KPMG

1y Alia Shoaib, Reporter