Nearly half way through the year and the insolvency industry is certainly not stagnating, as we continue to be proactively busy, in line with previous years as seen prior to the pandemic. The last few weeks have seen an influx of instructions, but it has been a lot of small cases with more problems than assets.
Following on from the highly successful auction of the metal fabrication machinery & equipment in Arundel, West Sussex, which concluded at the beginning of April, the Bystronic BySprint 3015 CNC Laser Cutter (2014) with ByLoader Sheet Loading System, has become unexpectedly re-available, due to non-payment by the auction purchaser. Bids start to close from 10am on 7th June, viewing is available by appointment on 6th June. For more information, please visit https://buff.ly/3Gw4zMs.
Liv has continued to astound us with her talents and was invited to be one of the key speakers at The SESCA Insolvency Conference in Dorking this month. She delivered a thoroughly compelling 45-minute presentation, on the Arbitration Process within the Commercial Rent (Coronavirus) Act 2022, highlighting the key definitions, the three stages of arbitration and the options available to landlords. Who knew it could be so interesting! Conveniently, the conference was held at Denbies Wine Estate, which of course was a most welcome venue. Visit https://buff.ly/3Ljv8VN to read Liv’s article, to assess what opportunities there are for insolvency practitioners and enhance your knowledge on the Act.
We have continued to see a steady stream of cases. Instructions have included a pharmaceutical manufacturing & wholesaler, a pub, a motorcycle repair garage, two separate car repair garages, a niche public health & humanitarian supply chain consultancy, an interior design company and a ladies clothing wholesaler, to name a few. In addition, Liv is also working on a valuation of laboratory equipment & number of patents for a technology company.
We have also been approached to advertise for sale a longstanding health and beauty salon in Dorset. We have sold a few lucrative businesses recently and our 50,000 strong investor, dealer and business buyer client base, is proving we are in a preferential position to advertise & sell businesses, realising significant values.
As well as insolvency instructions we have continued to quote for share valuations and RICS property valuations for private clients. The housing market continues to fly and prices are still soaring. It is important to get valuations checked and re-valued at more frequent intervals due to the fast-moving nature of the market currently.
We are enjoying catching up with our clients at an increase of networking events, paramount to strategic growth and partnerships. The office continues to be looking somewhat vacant, simply due to the increase in site visits, providing a greater insight into the businesses and assets that we are privileged to value and market.
As always, please do not hesitate to contact us if we can be of assistance with any matters. We are always happy to take a look at assets for you and let you know if they are worth dealing with. The impact of Covid-19 on many disposal processes have heightened the thresholds of what is cost effective to deal with and not.
We hope you all keep safe and well, and have a busy and prosperous rest of 2022!
The Team at Proudley Associates