Middleton In the Press

Peter Yeldon and Mark Smillie are corporate recovery experts. Want to learn how not to meet them? Then read on for their tips on how to keep your company sailing smoothly… and what to do when it hits the rocks...

There aren't many people who would be proud to have been involved in a string of failing business ventures. But for Peter Yeldon and Mark Smillie, founders of corporate recovery firm Middleton Partners, their track record with disaster-hit companies is one to be proud of. This isn't because of the efficiency with which they dispatch their quarry and pay off the creditors. It's because, when the Grim Reaper has come knocking at their clients' doors, their record of sending him away empty handed is as good as any. With a combined 30 years specialising in corporate insolvency and company turnarounds they've been around the block a few times and seen the full gamut of failings – some critical, some not. They have also rescued thousands of businesses and tens of thousands of jobs. Yeldon cut his teeth and built his reputation as a receiver, investigator, administrator and liquidator. His high profile roles include the re-organisation of Lloyds of London into Equitas and the liquidation of the Maxwell's offshore companies. Smillie too has seen some action, specialising in company turnarounds with businesses like yours, typically turning over £1m-£100m.

They've purposely chosen to drop out of the rat race of working for the big firms – Yeldon left top-tier firm Smith & Williamson – and they jettisoned suits to put owner-managers at ease. "We want people to relax with us and talk candidly. We don't want them to feel they're dealing with a City suit – someone who's looking to fleece them. Our role is to try to save businesses, not shut them down." The trouble is too few businesses put themselves in a position to be rescued. The trick to survival, say Yeldon and Smillie, is to avoid getting into that position in the first place. The first thing you can do – however well your business is performing – is to recognise the warning signs. The second is to know how to act when trouble strikes.

YOU CAN NEVER GET HELP EARLY ENOUGH  

It hurts to admit your business is failing, but facing up to the situation and getting specialist help is the first step to recovery. Smillie and Yeldon believe that if many of the companies they see had done something two or three months earlier a solution could have been found.

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