The Insolvency Shop To The Rescue

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Written by The Insolvency Shop Tuesday, 30 June 2009
Some of you may know the name One 2 Three Commercial, a company that was formed in July 2008 to help people and businesses who were suffering serious debt problems.I was proud to be a part of that organisation, my ethos was reflected in what the company was all about, putting the client first and foremost and helping them to overcome and work through what often appear to be insurmountable problems.My colleague Nigel House and I each took up a 10% shareholding, leaving Russell Caldwell with the major share of 80%; this was due to Russell promising to personally fund the business, having stated that he had major collateral behind him. How sad it was when this turned out to be a false promise; whilst Russell did invest a fairly large sum of money, he soon ran out of funds, unfortunately, he neither advised his partners, nor curb his spending, rather, he continued to spend, investing in larger offices, furniture and IT equipment.A company that was set up with a very good business model, at a time when the very industry in which it was working was booming, has failed and failed miserably. How ironic that an insolvency company, a company that specialises in advising clients how to get out of debt, was unable to take its own advice and in only 10 months has itself become insolvent. Like many businesses that fail, it has been due to vanity, combined with a lack of proper leadership and a lack of business and management skills.In my view a Managing Director leads from the front, takes responsibility and deals with problems quickly and effectively. None of these things were demonstrated, indeed, at the end of May, the staff were left without pay or explanation as to why they had not been paid. Some of us had not been paid for a number of months. It was the staff that made the company work, they put in long hours and were totally dedicated to helping clients, to leave them without pay and without even an explanation or apology is totally unacceptable.  To then turn on those staff and use them as the reason for the company’s demise is wholly unwarranted and cowardly.What about the clients? People who had paid good money to One 2 Three, money that was paid so that a solution to their problems, their fears and their worries, could be put in place. With all the staff unpaid and effectively out of a job, One 2 Three is incapable of handling any client case nor does it have the ability to deliver sound advice.Because of our strong desire to help clients, Joanna Martin and I formed The Insolvency Shop. Whilst clients paid monies to One 2 Three, we have taken on their cases without charging any additional fees and whilst there will be some introducer fees to be claimed by us for IVA cases, the fees will not even cover the monies that have been paid out to former staff, as Joanna personally paid the salaries for a number of the One 2 Three staff, whilst not receiving any salary herself for 2 months.Joanna and I are not prepared to leave clients without help or support, especially as those clients came to One 2 Three for help at a time when they were vulnerable, frightened, with low self esteem and no ability to see a way out.The Insolvency Shop will be looking to establish links with professional services and introducers throughout the south west, looking for referral business as well as referring potential clients to others, therefore, giving our clients a complete service, which totally supports them and enables them and/or their businesses to move forward.

The Insolvency Shop is dedicated to helping people with serious debt problems, guiding people using personal experience of debt, combined with business experience as a result of running a fairly large multinational company for more than 10 years. We offer a friendly honest service, working with clients to protect their business, their families and their assets. 

The Insolvency Shop
14 Edgcumbe Court, 1 Osborne Road, Plymouth,PL3 4BS
Tel. 0117 230 3014

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