Auction giant launches debt recovery business

John Pye is launching a new division within its Business Assets department.

Launching in December, the new debt recovery brand – named JPS Debt Recovery – will offer a variety of services which complement John Pye’s existing work in insolvency and for government bodies including HM Revenue & Customs (HMRC).

Trevor Palethorpe, national head of corporate recovery at John Pye, said: “JPS Debt Recovery was borne out of a conversation with one of our insolvency practitioner clients who was tired of receiving an average service while being charged sky-high commission rates from their regular recovery agents. We already had the resources in place within John Pye – such as debt recovery specialists, enforcement officers and the firm is FCA registered – so we realised that this could be a great bolt on service which would complement our current offering perfectly.

“We’re aiming to deliver industry high service standards and industry low commission rates. It’s all come full circle and now, that same insolvency practitioner has become the division’s first client.”

The auction giant has a strong affiliation with the debt recovery industry. The company was co-founded in 1968 by Ann Pye, a pioneering figure within in the bailiff community and the first female bailiff to set-up her own company.

Palethorpe said: “Thanks to Ann’s amazing legacy in the industry, John Pye is intertwined with debt recovery and our insolvency team are recognised as experts in this field. The creation of JPS Debt Recovery was a clear and exciting next step for us.”

Chris Fish has been appointed to head up JPS Debt Recovery, having worked with Ann Pye at John Pye’s sister company for a number of years.

“We feel Chris’ experience and passion for the industry will help to shape JPS Debt Recovery’s own brand and create its own legacy.

“We’re delighted to have Chris on board and lead this significant new opportunity for the business,” said Palethorpe.