Wigan-based insolvency firm Focus Insolvency Group has acquired Phil Stone Consultancy as a restructuring arm to support struggling businesses nationwide.
The merger compliments Focus Insolvency Group’s current group offer, which deals with corporate insolvency, as well as personal insolvency through Debtfocus and financial solutions through Moneyfocus.
Anthony Fisher, managing director of Focus Insolvency Group, said: “The unique formula that Phil Stone Consultancy will bring ensures businesses who take these services up will benefit from increased revenues, decreased expenses and improved efficiencies within the business, whilst Focus Insolvency Group will sort out the formal restructuring of the debts.
He added: “Working with businesses in this way will give them every chance of success and will help to identify any further problems at an early stage.”
Phil Stone Consultancy, which offers a nationwide service from its base in Newhaven, East Sussex, joined the larger group on 21 January.
Its founder, Phil Stone, will stay on in the larger group as marketing director.
He said: “The synergy between our two firms was obvious from first contact. We all want to sort out businesses in trouble. Working together with Focus Insolvency Group is the best way to offer a complete service to struggling businesses.
“Being part of a well-respected group will make it possible for more professional advisors around the country to introduce struggling clients to our full range of services.”
Phil Stone consultancy will also provide open days in convenient locations nationwide enabling businesses access to the face-to-face advice.