Mr B – Northern Ireland

The Company was a small manufacturing business incorporated in 2010.

The company was profitable with staff numbers increasing with six employees working at the company in its height of trade. The company built up a good client base and was well respected in the industry for the quality of its goods. At the start of 2017, new orders, sales and forecast sales from two of the five main customers led the company to expect a good autumn. However, during late September two main customers announced that they had no significant orders for the company until after December. This put a significant strain on cash flow and the company sought advice from our firm in October 2017.

A cash flow forecast was prepared to identify if the company could trade through to January. Cost cutting options were identified however without the injection of further funds which wasn’t available, the company could not be rescued. The decision was taken to liquidate the company however the director was concerned as he had worked with his suppliers for over 30 years and it was important to him to return as much monies as possible to them.

We worked tirelessly in finding the right agents that shared our view on seeking the right outcomes for each party. The aim was to keep third party fees to a minimum to ensure that maximum funds were realised for the benefit of creditors. This, along with our straight forward, fair share and transparent fee structure has meant that 54 percent of the debt owed to creditor at the point of liquidation has been repaid.

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