PKF Smith Cooper completes three restructuring mandates in Midlands

Over the past few weeks, the Restructuring team at PKF Smith Cooper has successfully delivered three mandates, supporting businesses across the transport, manufacturing and retail sectors in overcoming financial distress and safeguarding 100 jobs across the Midlands.

The first mandate closed was with Martyn Barratt Transport, a 40-year-old haulage firm from Nottingham, which faced rising operating and insurance costs, leaving administration imminent. PKF Smith Cooper oversaw a going-concern sale to Zero Degree Logistics, securing all 40 jobs and ensuring continuity of service for customers.

JLC Form and Laser, a family-run, Willenhall laser-cutting and fabrication business, had seen turnover fall post-Covid, in addition to steep inflation in steel prices and supply chain disruption due to the war in Ukraine. With support from PKF Smith Cooper, the business was sold to Savekers Solutions, preserving all 11 jobs.

Staffordshire-based retail support provider UK Operation Project Support was navigating prolonged operational downtime due to Brexit and Covid-19-related site closures, leading to Crown arrears and cashflow strain. A pre-packaged sale to Euro Operational Project Support safeguarded all 37 jobs and protected the company’s client relationships.

All three deals were delivered by the Business Recovery and Restructuring team of PKF Smith Cooper, working closely with legal and financial advisors to secure the best possible outcomes.

Commenting on the engagements, Dean Nelson, partner at PKF Smith Cooper, said: “These three cases demonstrate why early intervention is key. When owners are proactive and act at the first signs of pressure, we can preserve jobs, protect goodwill and secure better outcomes for everyone involved in the business. Waiting too long will limit the options available and affect any chances of recovery.”

PKF Smith Cooper employs nearly 400 people across seven office locations, including in Derby, Nottingham, and Birmingham. The group is part of PKF, a global accounting and advisory company.