Castle I worked in a school which was set to be academised. They came in, made absolutely pointless changes (all board backing paper the same colour etc, as if we had nothing better to do, special chairs for SLT...) Spent money like it was going out of fashion. The school's money, obviously. We didn't get a special measures grant from government because we would soon be benefitting from the academy funds.
And then the chain folded, financial irregularities at the top. They withdrew. It became abundantly clear quite how much money they'd spent in preparing us to join them.
We were left penniless, no SLT bar a few who'd survived the academy cull, and one of theirs who defected. It was huge amounts of hard work to make ends meet. TLRs were not awarded, but obviously the work was done anyway. The school's results shot up to be one of the best performing schools in the county. We'd seen how bad it would be in an academy chain and we were killing ourselves to avoid that. The kids, too.
I loved that school. I left a good few years ago for reasons not related to the school. It's now formed its own trust with a local school and continues to thrive.
Academisation (or the threat of) did nothing for us except blow our budget. The staff worked their arses off, as did the kids, in our subsequent years.
If you recognise the school from my description, I hope you also think of it fondly and understand how traumatic the process was for all involved.