Recession helps Armitage Jones expand

TURNAROUND specialists Armitage Jones has doubled its team in its first year of trading following a raft of corporate projects.

The Ilkley-based firm, launched in February 2009 by partners Chris Jones, Tony Armitage and Simon Padgett, advises business on turnaround and growth strategies and has seen a spike in work in the wake of the financial crisis.

The business has increased its team to six.

Andrew Roberts, former finance director of several companies, and executive managers Sinead Jones and Sarah Pateman have joined the team over the past few months to assist with the growing number of businesses being advised by the partners.

Mr Armitage said: “We have been well received by the market as a team that brings a broad range of skills to businesses. 

“Our hands-on approach and the urgency with which we can change business situations has been crucial for us to deliverresults in this very fluid and challenging economy.”

The firm has been appointed to support a diverse range of businesses during its first year, and the multi-discipline team of legal, property, accountancy and insolvency specialists has assisted with restructuring work in the retail, professional services, contracting and e-commerce sectors and the sale of non-core subsidiaries as well as implementing diversification and growth strategies for previously struggling clients. 

Clients include an international bank, a national leisure chain, a commercial property group, a corporate travel business several property development businesses and a quoted PLC.

“That we have been able to grow to a team of six in our first year is great, and we hope that our results in positively turning critical problem companies around, and helping others thrive in new markets will aid continued expansion over the next year,” added Mr Armitage.