Economic uncertainty helps Wilson Field top £1m in fees

THE uncertain economic climate in the West Midlands has helped turnaround firm Wilson Field enjoy its most successful year to date.

The company, which launched an office in Solihull in 2011, has seen fee income has almost double to £1m, with the West Midlands making a strong contribution.

Total fee income in 2014-15 was £1m compared with around £600,000 the previous year. Bosses have highlighted improved teamwork amongst its staff, increased reputation, better networking and brand recognition in bringing about higher value contracts.

Neil Jeeves, who heads up the Solihull office, said: “At a time when many of the region’s insolvency practices have actually seen redundancies we have experienced exceptional growth.

“Where we have been able to capitalise is through a strong portfolio of skills and the backing of a broad team, which has a wealth of commercial and financial experience and a trusted track record in sales and business development.

“We are always looking at ways to expand and improve our offer and we excel in our aim of helping businesses in their most difficult times.”

Wilson Field, which specialises in business turnaround and refinancing rather than general accountancy practice, historically dealt with SMEs.

However, it has recently attracted larger assignments in the SME sector and administrations of notable companies ranging from manufacturers to construction companies, hotels to hauliers.

“Latest research shows that in the past year Wilson Field helped to save more than 2,100 jobs and 190 businesses across the UK as well as returning in excess of £9.8m to creditors nationwide,” added Jeeves.

“We have followed a strategy of organic growth – using retained profits to fund expansion. The company doesn’t have a trading overdraft which means we are not vulnerable to outside financial pressures and are in an excellent position to grow. Our plan is to continue on this path.”

Operating from its headquarters in Sheffield, Wilson Field has offices nationwide, with an office in Durham serving as the latest of its regional growth locations.

Nick Wilson, managing director at Wilson Field, said: “The growth seen at our West Midlands office is testament to the hard work of Neil and his colleagues. It is also indicative of the nature of Wilson Field’s growth plan, which has seen us expand across the UK.”