There are not many AIM chief executives who started their working lives as brickies. Ric Traynor, 49, head of Begbies Traynor, spent his gap year between school and university working on a building site. His time in the trade may have toughened him up for a future as an insolvency specialist.

While there is little demand for his bricklaying skills at the moment, with housebuilding faltering around the country, his ability to ease companies through the administration process has become more valuable as the recession deepens.

Yesterday Begbies Traynor, the business he founded in 1989, reported an adjusted pre-tax profit for the year to April 30 of £9.8 million, up from £7 million the previous year.

Mr Traynor believes that the total number of corporate insolvencies in the UK could exceed 30,000 this year, up from about 22,000 last year, and stay above 30,000 in 2010. In comparison, the number of insolvencies reached just under 30,000 in 1992, during the height of the previous recession.

“When the technical recession ends in the third quarter or towards the end of this year, we expect [insolvency] numbers to continue to increase,” he said. “We expect numbers to be at a higher level than the long-term average or base level for the next four or maybe five years. We’re looking at a medium term of extreme activity in the restructuring world, which we’re well positioned to take advantage of.”

While bigger names get the Woolworths and similarly sized companies to handle, Begbies Traynor has built a reputation as a go-to for small and medium-sized businesses on the brink of insolvency. This year Southampton Leisure Holdings, the holding company of Southampton Football Club, was one of the biggest names that Begbies had on its client list. The club was sold to Markus Liebherr, the Swiss investor, on Wednesday.

Mr Traynor qualified as an accountant with Arthur Andersen’s Manchester office in 1984. He joined Crossley & Davis, the accountant, as a senior manager, then set up Traynor & Partners with Andrew Dick, a colleague. It grew in the North of England, gaining nationwide status with the purchase of the London-based Begbies in 1997. Since floating in 2004 it has continued snapping up smaller competitors.

A father of three, Mr Traynor enjoys gym workouts, watching documentaries on TV and going to rock concerts. (Catherine Boyle)