Begbies Traynor acquires corporate debt specialist Jones Giles & Clay
- The move brings four experienced members to the Cardiff-based team
Begbies Traynor has acquired Jones Giles & Clay to solidify its position as the leading corporate recovery and insolvency practice in Wales.
The restructuring specialist said that with the transaction the group will “welcome four experienced team members to the Cardiff-based team, including directors Susan Clay and Vaughan Jones, who were directors of Jones Giles & Clay and have acted as authorized insolvency practitioners”.
In a statement, Begbies Traynor announced that “Both Susan Clay and Vaughan Jones have 38 years of personal and corporate bankruptcy experience, with Susan Clay bringing additional personal bankruptcy expertise and Vaughan Jones having experience at a wide variety of firms, including Charities and ‘Third Sectors.’
Ric Traynor, Chief Executive Officer of Begbies Traynor, said: “This is an important step for our practice as we make significant hiring and increase our ability to work with larger clients on complex cases.”
The group also announced that it grew 11 percent nationwide in the past fiscal year.
Ric Traynor, Chief Executive Officer of Begbies Traynor, said: “This is an important step for our practice as we make significant hiring and increase our capacity to work with larger clients on complex cases.”
“Directors Vaughan and Susan are well respected in the local business community and by combining our teams we are creating an exciting proposition for the South Wales market.”
Begbies Traynor shares fell 2 percent to 122 pence in afternoon trade on Tuesday.
Business bankruptcies across England and Wales hit a 13-year high in 2022 as businesses grappled with rising inflation, largely caused by skyrocketing energy prices in the wake of Russia’s all-out invasion of Ukraine.
Begbies’ appointments included stationery chain Paperchase and rugby union club Worcester Warriors, which were wound up in February after failing to pay a £6million tax debt.
Susan Clay added: “Begbies Traynor has built a reputation for offering a consistently high quality offering across the UK while also providing personal and friendly service at a local level.”
“It has never been more important for companies and individuals to have access to expertise in this area and Vaughan and I look forward to growing our practice with the Begbies Traynor team.”