West Yorkshire based engineering Company with a turnover of £2mn which offered a broad range of control and power solutions to manufacturing and process industries throughout the UK and Europe, the Company’s downfall resulting from the liquidation of an associated Company.
Outcome: The Walsh Taylor team negotiated with major creditors, key clients and employees to ensure the Company could continue to trade successfully under a Company Voluntary Arrangement.
A return of 100p in the £1 to creditors maintained a good working relationships with the creditors, and within the industry.
The Company traded a family orientated pub with guest bedrooms in North Yorkshire. The pub had a exceptional reputation as a peaceful family run village pub / bed and breakfast. The Company had an average annual turnover of £400,000. The Company had trade and crown liabilities of in excess of £100,000.
Outcome: The assets were sold to a successor company who were able to re-negotiate a lease with the landlord and re-employ several staff saving jobs in the process. We uccessfully negotiated the return of several items to various lease creditors and HMRC who had the benefit of a valid distraint notice, the items were sold and set off against crown liabilities.
Outcome: Managed negotiations with both the Football Conference Limited and Football Association Limited to maintain the Club’s existence.
Yorkshire based Quarry Plant manufacturer operating for a number of large Plc’s within the industry with a £3,000,000 annual turnover.
Outcome: Facilitated a sale of the business and its assets, including freehold property. The Bank held a fixed and floating charged debenture with a large percentage of the liability personally guaranteed by the Directors. Payment of preferential claims (wage arrears/holiday pay)were made in full. It is anticipated that the bank will be paid in excess of £150,000.
Sole Trader operating in the Haulage Industry. The Debtor had fallen heavily in arrears with his personal tax liabilities and was served with a Bankruptcy petition.
Outcome: Walsh Taylor negotiated a payment arrangement to enable him to continue trading saving over 20 jobs.
A television & audio retail and repairs shop in Cambridgeshire, trading for 16 years with an annual turnover of £130,000. The trade and crown creditors of £28,000 accepted a dividend of 39p/£ over a 5 year period.
Two creditors had already received judgment in respect of their claims but the arrangement was still approved.
Outcome: Business and jobs were saved along with the status of a long established retail outlet from the local area.
Construction Company trading predominantly in the Yorkshire area
Outcome: Recovered substantial book debt recoveries resulting in a distribution to the bank.
Administration of fifteen branch chain of clothes shops throughout the UK with a turnover of £2 million.
Outcome: The Walsh Taylor team worked closely with the purchasers, ROT creditors and Landlords to ensure a going concern sale of the business and assets was achieved. The Majority of the Company’s workforce being re-employed as a result of the sale of the business.
Construction Company Based in West Yorkshire with a turnover of £1.5 million.
Outcome: All assets were sold to a successor company resulting in all employee jobs being saved. Company’s investment property sold and bank & secured creditors paid in full.
Car leasing firm based in North Yorkshire with a turnover of £500,000.
Outcome: Walsh Taylor team worked together with the employees resulting in a sale of the business and assets to the Employees. All employees’ jobs saved as a result of the sale and asset realisations resulted in a high return to creditors.
Sheet metal fabrication Company based in West Yorkshire with a turnover of £800,000. Long established business with a good reputation within the industry
Outcome: Assets sold to a successor company resulting in all employees’ jobs being saved.