Knowing you are dealing with a reputable and regulated company will help ease your mind when deciding who to entrust with your company problems. With over 400 staff and over 40 offices nationwide, we are well-established and perfectly placed to support company directors, owners and shareholders. View some of our case studies below.
RUGBY CLUB FACED WINDING UP PETITION FROM HMRC - A Yorkshire rugby league club faced a winding-up petition from HMRC. Attempts by the club and the Rugby League to secure funding and a repayment agreement with the Crown both failed: the remaining options were winding up or administration. We were appointed joint administrators and immediately secured a sale of the business and assets to a consortium of local businessmen who are fans of the club.
As well as saving the cub, the deal secured the future of the playing squad and staff at the ground.
VALUE CLOTHING COMPANY RESCUED FOLLOWING HMRC PETITION - A Yorkshire-based value clothing company was sold by our team after the long established chain fell victim to the retail sector downturn. Moving quickly, they secured a buyer three days after appointment. HMRC had issued a winding-up petition but liquidation would not be the best outcome, halting trade, losing goodwill and increasing preferential creditors through significant redundancies. Administration enhanced goodwill, ensured customer continuity and retaining most staff.
This prompt ‘going concern’ sale allowed 49 stores in leasehold premises to go on trading, protecting over 240 jobs and minimising creditor claims.
CARE HOME SOLD OUT OF LIQUIDATION FOLLOWING UNPAID TAX BILL - A St Helens care home which faced being wound up over an unpaid tax bill was sold out of liquidation. The deal has safeguarded 17 jobs and the home's 16 residents. The care home had been faced with a winding up petition from HMRC, which would have seen it shut down immediately. Our team of liquidators only became involved after the petition had been filed, which gave us little time to find a sale and plan a future for the business before its bankers froze its account.
The business entered a Creditors Voluntary Liquidation (CVL) and HMRC agreed not to proceed with the winding-up petition.
I’m delighted to announce the sale of this fantastic business. It means that not only is Dorset Farms’ future safeguarded but it also enables Eversfield Organic Farm to offer a broader range of ethically produced and traceable products to its existing customer base.Read the Case Study View all Case Studies
Friday 9th December, 2016 Written by Keith Tully
Dozens of high profile football players are under scrutiny from HM Revenue & Customs (HMRC) in relation to potential irregularities in their tax affairs, the organisation’s chief executive Jon Thompson has explained.Learn More…
Thursday 12th November, 2015 Written by Keith Tully
Independent traders in the town of Crickhowell in the Brecon Beacons are in the process of declaring themselves ‘offshore’ in an effort to avoid business taxes they would otherwise be obliged to pay.Learn More…
23rd October 2017 The British Chambers of Commerce (BCC) has called on the government to freeze business rates in order to provide a boost to the competitiveness and productivity of UK companies.
12th October 2017 The impact of Brexit and the process of Britain departing from the European Union is likely to push up rates of insolvency among businesses throughout the UK.
11th October 2017 Financial losses and persistent problems with cash flows has led the civil engineering business Owen Pugh to enter administration.
2nd October 2017 Monarch Airlines has become insolvent and ceased trading as a result of “mounting cost pressures and increasingly competitive market conditions,” administrators have confirmed.
29th September 2017 The Bank of England governor Mark Carney has given a clear indication that he expects the base rate of interest in the UK to rise in the near future.
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.