Leonard Curtis
 | |
| Partnership | |
| Industry | Accountancy |
| Headquarters | Manchester, UK |
| Products | Insolvency, corporate recovery, restructuring |
| Revenue | £14 million (2011)[1] |
| £4.6 million (2011) | |
Number of employees | > 100 |
| Website | leonardcurtis.co.uk |
Leonard Curtis is one of the largest independent firms in the UK specialising in corporate recovery, insolvency and business restructuring.
It is a national practice with 14 directors and more than 100 staff based at offices in Manchester, Bristol, Bury, Blackburn, Wolverhampton, Birmingham, Newcastle-upon-Tyne and London.
History
The firm was founded by Leonard Curtis, who retired in 1983.[2]
In 1997 the firm considered and rejected a merger with Levy Gee, a general accountancy firm that went on to form Numerica. Leonard Curtis partners stated that they preferred to remain a specialist firm.[3]
In 1998, two offices in Manchester and Liverpool with 30 staff left the firm for BDO Stoy Hayward.[2]
Later in 1998, Leonard Curtis formed a joint venture, Fisher Curtis, with the insolvency arm of H. W. Fisher.[4] The arrangement lasted only two years before the firms separated again.[5]
Awards
Leonard Curtis won the mid-sized firm prize as Corporate Recovery Firm of the Year at the inaugural Insolvency and Rescue Awards 2008, run by Credit Today magazine.[6]
The firm was awarded Business Recovery Specialist of the Year at the 2010 Business Moneyfacts Awards. The judging panel said: "By providing companies with positive strategic advice, Leonard Curtis has enabled many of them to retain control of their business. The Corporate Strategies team continues to focus on the critical issues, providing clear recommendations together with restructuring and refinancing services to both growing and underperforming businesses."[7]
Controversy
"The Liquidation Game", a 1996 edition of Channel 4's investigative documentary Dispatches, made allegations of sharp practice in the insolvency profession. Keith Goodman, then a partner in Leonard Curtis (later both Senior Partner of the firm and President of the IPA),[8] claimed that a case of his was presented in a biased way, and sought an apology. However, the Broadcasting Complaints Commission rejected his complaint, saying that his case was sufficiently well set apart from other more serious allegations in the programme.[9][10]
Notable clients
In 1993, the firm was appointed by the liquidators of BCCI as receivers to the Manchester-based Kumar brothers, selling their holdings including Birmingham City F.C..[11]
Other past clients include lobbyist Ian Greer,[12] Metrocab, the Hastings Pier Company, Poole Pottery and Evesham Technology.
Recent clients
Leonard Curtis sold Sofa Workshop in 2009, protecting customer orders but with significant job losses.
Later that year, the firm saved two thirds of the business of fashion retailer MK One by a sale to Internacionale Retail.
The firm was appointed administrator of Stockport County F.C. in 2009. It took a long time to find a buyer for the club, leading to criticisms from its fans.[13]
References
- ↑ Reed, Kevin (12 July 2011). "Leonard Curtis lines up more growth after strong 2010". Accountancy Age. Retrieved 13 July 2011.
- ↑ 2.0 2.1 People & Business, The Independent, 3 March 1998
- ↑ Levy Gee and Leonard Curtis scrap merger, Accountancy Age, 27 Aug 1997
- ↑ News in brief, Accountancy Age, 27 Oct 1998
- ↑ Curtis split from Fisher, Accountancy Age, 30 Jun 2000
- ↑ LC wins Corporate Recovery Firm of the Year, 31 October 2008 (on official website)
- ↑ Leonard Curtis named National Business Recovery Specialist of the Year, Business Credit Management UK, 29 Mar 2010
- ↑ IPA appoints new president, Accountancy Age, 15 May 2001
- ↑ Climax of practitioner's case against Dispatches, Accountancy Age, 6 Feb 1997
- ↑ Goodman loses C4 fight, Accountancy Age, 8 Aug 1997
- ↑ Birmingham football sale nears, The Independent, 6 January 1993
- ↑ Christian Wolmar, Greer's lobby empire crashes, The Independent, 20 December 1996
- ↑ Stockport County administrators defend fees, Accountancy Age, 17 Dec 2009