Category: News Article

The BLB Advisory Group, that StarAdvise is a part of, is going from strength to strength with the opening of a brand new office in Worcester.

Since first launching in January 2020, BLB Advisory has tripled its premises. Initially just being based in Coventry, in January of this year the company acquired StarAdvise, and this month it expanded to yet another county.

Brett Barton, BLB Advisory Managing Director, said: “I left a National Practice behind and opened BLB Advisory to support businesses that I felt weren’t getting the right help they needed. It’s been this focused approach and friendly service that I think has led to us being able to grow so much in such a short space of time.”

Alongside this new opening in The Tything, Toby Holt has also been recruited to oversee the running of the office. Toby, a well known figure in the local market, joins the firm with more than 30 years of experience in Insolvency, much of which has involved advising distressed Worcestershire businesses.

Toby said: “This is an interesting time for our industry with the number corporate failures high on the increase. The past year has been so unpredictable and has seen changes for many organisations. But I’m pleased to have joined a team that always strives to find other solutions when businesses are struggling, with closure really being the last possible option explored.”

In June 2021 alone there were 1,207 corporate insolvencies. This is 63% higher than the number recorded in the same month in the previous year. The trend is also likely to increase further as companies have staff returning from furlough, repayments are now having to be made on Bounce Back loans, and the pressures of self isolating due to Covid are being felt, notably in the leisure industry.

Brett added: “Toby arrives at a time when Worcestershire businesses are struggling and need prompt expert advice on their options.  We are pleased to be able to offer a local presence, with a Worcester base and focus, in a period which is going to be very difficult.  We can advise on all the options available for distressed businesses.  Our new office now means that we have a presence across Worcestershire, Herefordshire, and Warwickshire.”

To find out more about BLB Advisory, please visit www.blbadvisory.co.uk.

Hereford based restructuring, turnaround and insolvency specialist, StarAdvise, has joined forces with BLB Advisory Ltd, meaning it now has even more resources to help businesses in need.

StarAdvise is delighted to announce its expansion following its merger with BLB Advisory who are based in Coventry and cover the Midlands region. Although it now falls under the BLB Advisory banner, it’s very much business as usual. The two offices will continue to focus on supporting companies within their local area, and this growth just means that there is now more resources and more knowledge shared across the organisation.

Louise Hookham of StarAdvise said: “I have worked with Brett Barton, Managing Director of BLB Advisory, in the past, so when we were both looking to grow it seemed an obvious solution for us to combine our forces together. We are now a team of six and having this broader experience will mean we can offer an even greater service to all of our clients.”

As well as this broader experience, Louise still works very closely with Rachel Ballinger, Licensed Insolvency Practitioner, who is still based in the Hereford Office. This means that StarAdvise has the benefit of two licensed insolvency practitioners under the BLB Advisory banner.

Brett commented: “Louise and I both left roles at a national practice to open our own businesses as we wanted to be able to provide support to SMEs that can be difficult to achieve in larger organisations at a competitive price. This acquisition made such sense as we both have the same priorities and we both have an emphasis on supporting companies of all shapes and sizes within the areas we know best. Both practices will very specifically still focus on their respective counties and it’s very important to both Louise and myself that this regional approach remains.”

The expanded team at StarAdvise still provides the same wide range of services, from simple advisory assignments, to help with raising finance, business acquisitions and disposals, business exits and assisting with financial distress. The heart of the company is to offer impartial and constructive advice that explores all the possible options, ensuring that the best outcome is found for each individual case.

Whether you are looking for help with rescuing a business or you need some guidance through a closure, please get in touch with StarAdvise on 01432 345888 or info@staradvise.co.uk.