Paperchase collapse and raft of company insolvencies boost Begbies Traynor

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Begbies said the ongoing administration, which involves keeping the stores open and running the firm in the short term, is a “higher-value” insolvency case which has helped strengthen its financial performance. The economic benefit to Begbies of the upward trend in midmarket administrations is expected to be reflected in the financial year to April 2024 Vivek Raja, Shore Capital Markets It also hailed a good pipeline of financial advisory appointments, and said it was confident it would meet market expectations of between £19.7 million and £20.6 million in pre-tax profit and between £117.7 million and £121.4 million in revenue for the year. “This will extend our strong financial track record of growth, through a combination of organic and acquisitive investment.” Vivek Raja, an equity research analyst at Shore Capital Markets, said rising corporate distress levels in the UK mean the outlook for Begbies remains positive, thanks to its counter-cyclical nature. He said: “The economic benefit to Begbies of the upward trend in midmarket administrations is expected to be reflected in the financial year to April 2024.