Wholesale fish business saved � all in a day�s work

Russell Roe (left) from Central Seafoods and Brett Barton (right) from Cranfield Recovery, at the wholesalers.

You might think that the average day for a member of the Cranfield Recovery team would be pretty run of the mill. A leisurely drive to work in Warwick, make a quick cup of coffee then settle down to a day in the office, drafting correspondence and speaking to clients and fellow professionals about the cases in hand.

Not a bit of it! The reality for Cranfield Recovery�s Brett Barton was very different one very cold winter�s morning around a month ago. Brett takes up the story...

Wednesday, 5.30 am - Arrive in a back street trading estate, with temperatures well below freezing to try and save an ailing Coventry wholesale fish business.

5.45 am - With fish having been delivered overnight from Grimsby and Aberdeen the first task is to sort out the deliveries for the day so that existing customers are not disappointed.

8.00 am - Stock take in the freezers where the temperatures are a constant minus 25 degrees. I�m ever so thankful for the thermals!

9.00 am - Begin to address the day to day trading issues and talk to disgruntled suppliers � including the chap who turns up in his van and blocks the entrance, refusing to move until he is paid or has his goods returned. A quick call to the local constabulary sorted that one.

10.00 am � Call customers to secure their orders for the following day � we were after all keen to see this business sold as a going concern.

12.30 pm - Van drivers start to return with cash which has to be fully accounted for.

2.00pm - Retire to the relative comfort of the office to face the barrage of calls from creditors and suppliers. If we were to sell this business it was essential to keep lines of supply open whilst at the same time trying to find a buyer. At one stage I was talking to a potential buyer on the mobile and had two creditors holding for me on the business land lines. Pressured? Just a bit.

7.00 pm � Head home and spend the evening running over the figures and checking through the list of actions still to be completed.

By the end of the week we had found a buyer (Central Seafoods) and by 5.00 pm the following Monday we had sold the business, saving all nine jobs in the firm and maintaining supply to the company's existing customers. Not a bad week�s work really!

Most readers will already have met Tony and therefore don�t need a run of the mill profile, instead we thought it might be more interesting to give you 3 things you may not know about him.

1. Before becoming a licensed insolvency practitioner he worked at the Department of Trade and Industry and then for twelve weeks in an Italian bank. �There were just too many zeros in the lira to take the job seriously� he comments.
2. In his spare time Tony enjoys attending track days at locations such as Donnington Park. He is also a committed Francofile. Family duties mean that golfing opportunities rarely occur at weekends, but as the days get longer late afternoon rounds at the Welcombe G.C. are eagerly awaited.
3. On the business front his most infamous bankrupt was Kenneth Noye (of Brinks Mat robbery fame). He has also had dealings with Frank Warren (the boxing promoter) when he dealt with Rex Williams Leisure plc and he managed to successfully implement a 1p in the � settlement in a voluntary arrangement for a member of the House of Lords, thereby allowing his Lordship to remain in the House.

Tony is making contact with accountants in Warwickshire this quarter to find out how local accountants and Cranfield might work together. If you haven�t heard from Tony and would like to, contact him on 01926 450414 or by email.

Cranfield Carting Challenge 2006 Dust, diesel and death defying antics on the track can be expected from Coventry and Warwickshire professionals between March and September this year as we launch the Cranfield Carting Challenge. Teams of four from professional firms in the area will meet for the first event on 14 March. We will keep you advised of how the teams progress during the season.

Warwickshire Early Bird Golf Society Diary Dates 16 March 2006 20 April 2006 18 May 2006 15 June 2006 20 July 2006 17 August 2006 21 September 2006 19 October 2006 16 November 2006 Join fellow professionals for a morning of golf and networking at our regular golf events at the Welcombe Golf course near Stratford upon Avon.