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Friday, 22 July 2011

Begbies acquires Invocas's Scottish case portfolio

Interesting news this week that Begbies Traynor plc has acquired the insolvency portfolio of Invocas Group in Scotland,  http://www.business7.co.uk/business-news/the-professionals/2011/07/20/begbies-traynor-snaps-up-invocas-financial-portfolio-106408-23283981/

Given that Invocas Group plc has very recently delisted from AIM ( delisting notice is here http://www.invocasgroup.com/docs/announcement_delisting.pdf ) and the website seems to be diversifying AWAY from direct insolvency services to providing marketing support services to insolvency firms, this seems to be an interesting end for another listed insolvency firm?

As for Begbies it may be picking up the Invocas Scottish insolvency cases but we are not sure if they are picking up the staff?

Another related bit of news is that Begbies saw a £5m fall in profits to the end of the last financial year.

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