A well-established shipping firm that had traded in the Humberside region for over 40 years was placed into voluntary liquidation in the face of challenging market conditions.
The family-run company had dramatically downsized in the previous years by selling off ships to arrest the threat of insolvency but the crashing rates for dry bulk shipping - the firm's bread and butter service - put paid to any hope of a recovery and with little hope of an upturn in the sector, a CVL was the best route forward for all parties.
The company had done well to weather the economic downturn to this point but the changing market proved to difficult to overcome and we helped the firm meet the majority of its liabilities to creditors before winding up the company within a four-week period.
23rd March 2017 The incoming changes to the business rates regime in the UK are already taking their toll on small businesses throughout the country.
22nd March 2017 Companies within the UK’s construction industry could lose as much as 8 per cent of their workforces on average as a result of Britain’s departure from the European Union (EU).
10th March 2017 The tax burdens faced by pubs throughout the UK are threatening the survival of the entire industry, according to the boss of one of the largest pub chains in the country.
8th March 2017 The Chancellor has announced his 2017 Spring Budget featuring some changes which will affect businesses up and down the country. Find out more about what Phillip Hammond unveiled today.
3rd March 2017 Struggling lingerie retail business Agent Provocateur has been acquired out of administration in a pre-pack deal apparently worth tens of millions of pounds.
Every day we help companies just like yours turn things around against seemingly impossible odds, regardless of your situation we can help. Find your nearest office today.