Begbies Traynor

The company was formed as Traynor & Partners in 1989 by Ric Traynor and Andrew Dick. It traded under this name for eight years, growing during this period to cover much of Northern England. In 1997 Traynor took over London-based firm Begbies, founded by George Begbie, and was renamed Begbies Traynor.{{Cite web |url=http://business.timesonline.co.uk/tol/business/movers_and_shakers/article6677092.ece |title=Business big shot: Ric Traynor, chief executive of Begbies Traynor - Times Online |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20110611212816/http://business.timesonline.co.uk/tol/business/movers_and_shakers/article6677092.ece |archive-date=2011-06-11 |url-status=dead }}

The company was floated on the Alternative Investment Market in August 2004, becoming the first insolvency specialist to do so. It was initially intended that this should occur in July 2004, but was put back by a month. At this point the company had 23 offices and 240 employees.[http://www.croner.co.uk/croner/jsp/Editorial.do?channelId=-305033&contentId=810728&Failed_Reason=Session+not+found&Failed_Page=%2Fjsp%2FEditorial.do&BV_UseBVCookie=No Begbies Traynor puts back AIM float] {{Webarchive|url=https://web.archive.org/web/20110723133922/http://www.croner.co.uk/croner/jsp/Editorial.do?channelId=-305033&contentId=810728&Failed_Reason=Session+not+found&Failed_Page=%2Fjsp%2FEditorial.do&BV_UseBVCookie=No |date=2011-07-23 }} Accountancy magazine

Begbies benefited from the economic downturn caused by the credit crunch in 2008, with business initially increasing.{{Cite web |url=http://www.thisislondon.co.uk/standard-business/article-23782147-begbies-traynor-booms-in-slump.do |title=Begbies Traynor booms in slump - Business - Evening Standard |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20091214102455/http://www.thisislondon.co.uk/standard-business/article-23782147-begbies-traynor-booms-in-slump.do |archive-date=2009-12-14 |url-status=dead }} Ric Traynor predicted at the beginning of 2009 that shares would increase in value to around 150p, although Brewin Dolphin stated that 140p was more likely.{{cite news|url=https://www.independent.co.uk/news/business/sharewatch/investment-column-begbies-traynor-should-be-in-its-element-1488660.html|title=Investment Column: Begbies Traynor should be in its element|work=The Independent|date=22 January 2009|last=Dawber|first=Alistair|location=London|access-date=15 June 2010|archive-url=https://web.archive.org/web/20101212031403/http://www.independent.co.uk/news/business/sharewatch/investment-column-begbies-traynor-should-be-in-its-element-1488660.html|archive-date=12 December 2010|url-status=live}} However, a decline in its tax business saw company profits fall short of predictions despite increased turnover in its insolvency division, and share prices fell below 100p in early 2010.{{Cite web |url=http://www.accountancyage.com/accountancyage/news/2256852/begbies-traynor-tax-division |title=Begbies Traynor tax division declining - Accountancy Age |date=27 January 2010 |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20100201084122/http://www.accountancyage.com/accountancyage/news/2256852/begbies-traynor-tax-division |archive-date=2010-02-01 |url-status=live }} Begbies' business was affected by a reduction in insolvencies following the introduction of increased government support; although profits for the 2009/10 financial year were higher than those for the previous year, they were well below expectations, and share prices fell to a low of 59.5p in June 2010.{{cite news|url=http://menmedia.co.uk/manchestereveningnews/news/business/s/1242214_fewer_insolvencies_makes_for_subdued_time_at_begbies_traynor|title=Fewer insolvencies makes for subdued time at Begbies Traynor|work=Manchester Evening News|date=7 June 2010|publisher=M.E.N. Media|access-date=15 June 2010|archive-url=https://web.archive.org/web/20121112145346/http://menmedia.co.uk/manchestereveningnews/news/business/s/1242214_fewer_insolvencies_makes_for_subdued_time_at_begbies_traynor|archive-date=12 November 2012|url-status=live}} The company lost its chief financial officer, John Gittins, to a rival firm from August 2010.[https://archive.today/20130116120004/http://www.accountancyage.com/accountancyage/news/2264253/begbies-cfo-leave-ncc Begbies CFO to leave for NCC - Accountancy Age]

In May 2010 Begbies Traynor renegotiated a financing deal with banks HSBC and Yorkshire Bank which increased its credit facility to £30 million.{{Cite web |url=http://menmedia.co.uk/asiannews/news/business/s/1238670_begbies_traynor_has_30m_fund_for_growth |title=Begbies Traynor has £30m fund for growth - The Asian News |work=The Asian News |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20121112145404/http://menmedia.co.uk/asiannews/news/business/s/1238670_begbies_traynor_has_30m_fund_for_growth |archive-date=2012-11-12 |url-status=live }} This allowed the company to expand further, announcing the opening of a new office in Reading in early June 2010.{{Cite web |url=http://www.creditman.biz/uk/members/news-view.asp?newsviewID=11867 |title=Begbies Traynor opens Thames Valley office in Reading - Business Credit News UK |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20110706144513/http://www.creditman.biz/uk/members/news-view.asp?newsviewID=11867 |archive-date=2011-07-06 |url-status=dead }}

In March 2021, Begbies Traynor decided to purchase David Rubin & Partners for up to £25 million.{{Cite web|last=Godfrey|first=Hannah|date=12 March 2021|title=Begbies Traynor set for £25m acquisition in biggest deal yet|url=https://www.cityam.com/begbies-traynor-set-for-25m-acquisition-in-biggest-deal-yet/|url-status=live|access-date=23 March 2021|website=CityA.M.|archive-url=https://web.archive.org/web/20210312100737/https://www.cityam.com/begbies-traynor-set-for-25m-acquisition-in-biggest-deal-yet/ |archive-date=2021-03-12 }} The upfront sum was £12 million, and cash earn-out payments worth up to £13 million contingent on the purchased business's financial results.{{Cite web|last=Quested|first=Tony|date=16 March 2021|title=Begbies Traynor raises £22m towards Rubin acquisition|url=https://www.businessweekly.co.uk/news/financial/begbies-traynor-raises-%C2%A322m-towards-rubin-acquisition|url-status=live|access-date=23 March 2021|website=Business Weekly|archive-url=https://web.archive.org/web/20210319042822/https://www.businessweekly.co.uk/news/financial/begbies-traynor-raises-%C2%A322m-towards-rubin-acquisition |archive-date=2021-03-19 }}

The company have helped to restructure or liquidate a number of notable companies, including:

• Huddersfield Town F.C.{{cite news|url=http://www.guardian.co.uk/global/2009/may/06/huddersfield-town|title=Huddersfield's community stadium dream sours in ownership wrangle|work=The Guardian|last=Conn|first=David|location=London|date=6 May 2009|access-date=15 June 2010|archive-url=https://web.archive.org/web/20110430101547/http://www.guardian.co.uk/global/2009/may/06/huddersfield-town|archive-date=30 April 2011|url-status=live}}
• Tillingbourne Bus Company{{Cite web |url=http://www.getsurrey.co.uk/news/s/83440_cranleigh_bus_company_calls_in_the_receivers |title=Cranleigh bus company calls in the receivers - News - getsurrey |date=23 March 2001 |access-date=2010-10-18 |archive-url=https://web.archive.org/web/20120323003611/http://www.getsurrey.co.uk/news/s/83440_cranleigh_bus_company_calls_in_the_receivers |archive-date=2012-03-23 |url-status=live }}
• Scarborough F.C.{{Cite web |url=http://www.wsc.co.uk/content/view/3774/38/ |title=When Saturday Comes - Scarborough unfair |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20100117032210/http://www.wsc.co.uk/content/view/3774/38/ |archive-date=2010-01-17 |url-status=dead }}
• Wrexham F.C.{{Cite web |url=http://www.dailypost.co.uk/sport-news/wrexham-fc/tm_headline%3Dtroubled-club---8216-was-in-profit--8217-%26method%3Dfull%26objectid%3D19139768%26siteid%3D50142-name_page.html |title=Daily Post North Wales - Sport News - Troubled club 'was in profit' |access-date=2019-08-06 |archive-url=https://web.archive.org/web/20120314093617/http://www.dailypost.co.uk/sport-news/wrexham-fc/tm_headline%3Dtroubled-club---8216-was-in-profit--8217-%26method%3Dfull%26objectid%3D19139768%26siteid%3D50142-name_page.html |archive-date=2012-03-14 |url-status=dead }}
• FM Rail{{Cite web |url=http://www.chambersandpartners.com/UK/Editorial/29810 |title=Chambers And Partners - Editorial - Restructuring/Insolvency |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20120614171731/http://www.chambersandpartners.com/UK/Editorial/29810 |archive-date=2012-06-14 |url-status=dead }}
• Tiger Telematics{{Cite web |url=http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article722624.ece |title=The firm that blew it all in two years - Times Online |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20070212002831/http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article722624.ece |archive-date=2007-02-12 |url-status=dead }}
• A.F.C. Bournemouth[http://www.timesonline.co.uk/tol/sport/football/football_league/article3335291.ece Bournemouth go into administration | Football League - Times Online]{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}
• Southampton Leisure Holdings PLC[http://www.timesonline.co.uk/tol/sport/football/football_league/article6018444.ece Southampton FC owner falls into administration | Football League - Times Online]{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}
• Northcott Theatre{{Cite web |url=http://www.thisisexeter.co.uk/news/Theatre-rescue-deal-signed-sealed/article-2270910-detail/article.html |title=Theatre rescue deal is signed {{!}} This is Exeter |access-date=2010-06-15 |archive-url=https://web.archive.org/web/20110102150537/http://www.thisisexeter.co.uk/news/Theatre-rescue-deal-signed-sealed/article-2270910-detail/article.html |archive-date=2011-01-02 |url-status=dead }}
• Realtime Worlds{{cite news|url=http://www.bbc.co.uk/news/uk-scotland-tayside-central-11010527|title=Realtime Worlds games firm collapse costs 185 jobs|work=BBC News|date=18 August 2010|access-date=19 August 2010|archive-url=https://web.archive.org/web/20100819041241/http://www.bbc.co.uk/news/uk-scotland-tayside-central-11010527|archive-date=19 August 2010|url-status=live}}
• Port Vale F.C.{{cite news|title=Port Vale formally enter administration|url=http://www.bbc.co.uk/sport/0/football/17230886|accessdate=9 March 2012|newspaper=BBC Sport|date=9 March 2012|archive-url=https://web.archive.org/web/20120309142149/http://www.bbc.co.uk/sport/0/football/17230886|archive-date=9 March 2012|url-status=live}}
• Crawley Town F.C.{{Cite news|url=http://news.bbc.co.uk/sport2/hi/football/teams/c/crawley_town/5041350.stm|title=Crawley placed in administration|date=2006-06-05|access-date=2019-08-06|language=en-GB}}
• Wigan Athletic Football Club{{Cite web|last=Traynor|first=Begbies|date=2020-07-01|title=Wigan Athletic Football Club in administration {{!}} Begbies Traynor - The UK|url=https://www.begbies-traynorgroup.com/news/firm-news/wigan-athletic-football-club-in-administration|access-date=2020-12-09|website=Begbies Traynor|language=en}}

{{reflist}}

• [http://www.begbies-traynorgroup.com/ Begbies Traynor Group website]
• [http://markets.ft.com/tearsheets/performance.asp?s=uk:BEG FT.com - Markets Data - Begbies]
• [http://www.guardian.co.uk/business/marketforceslive/2010/jan/21/1 Begbies Traynor hit by Government support for struggling companies | Business | blog | guardian.co.uk]
• [http://www.realbusinessrescue.co.uk/ Real Business Rescue website is part of Begbies Traynor]

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Category:Accounting firms of the United Kingdom

Category:Insolvency and corporate recovery firms

Category:Companies based in Manchester

Category:Business services companies established in 1989

Category:Companies listed on the London Stock Exchange

Category:1989 establishments in England