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.
12th December 2018
Small and medium-sized enterprises (SMEs) across the UK are paying increasingly large sums of money to collect amounts owed to them by their clients and customers.Read More
4th December 2018
The number of independent retailers who closed down outlets during the first half of this year reached a record high level for any comparable period.Read More