A YORKSHIRE business recovery specialist has secured the future of a historic horticultural supplier to the UK and Europe – saving more than 30 jobs.

The Harrogate office of Walsh Taylor was appointed to manage the affairs, business and property of LBS Worldwide Ltd – headquartered in Colne, Lancashire – after it went into administration on October 16.

The family firm has been a leading name in the horticultural and landscaping sectors for almost 50 years.

Under the stewardship of Walsh Taylor, the company was able to continue trading while in administration, thanks to an injection of funds from an individual investor.

As a result of that financial backing, and support from creditors, the future of the business has now been safeguarded.

Mary Taylor, Director of Walsh Taylor, said today: “LBS Worldwide Ltd is a company that has been within the family since inception, and has always had a very good reputation within the industry – both here in the UK and overseas.”

“Naturally, this has been a very distressing time for everyone connected to the company, which for many years has valued its long-standing relationships with its customers and suppliers.”

“With te injection of funds from the investor, wedded to continued support of all creditors, there is no reason why the company cannot continue to trade for many years.”

She added: “Our objective is always to find the most positive solution for firms and individuals facing financial difficulties, and we are pleased to have achieved that once again here.”

LBS Worldwide Ltd will exit administration via a Company Voluntary Arrangement (CVA).

This was the only possible option for the company to trade on retaining its legal identity – saving 34 jobs  and maximising a return to creditors.

Over 90% of supplier creditors have so far indicated their ongoing support and desire to see the company continuing trading and have offered their backing.

It is hoped that finance creditors will also see the benefit of supporting the company through this difficult time.

Walsh Taylor operates out of offices in Harrogate, Leeds, Bradford and Darlington and covers the whole of the North of England, drawing upon more than 100 years of combined expertise among its team of insolvency practitioners.

Mary Taylor
Director

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Meg Heath
Director

Meg has a background in supporting SMEs, including the raising of finance and advising on organisational change. She is a non-executive director of companies in the private and third sector, including Walsh Taylor.

Previously she was Deputy Fund Director of one of the largest CDFIs in the UK, and has experience of the social enterprise, charity and private sectors. Her experience of assisting companies to survive and thrive has been gained across a broad range of sectors and in companies of all sizes.

In addition to her work at Walsh Taylor she works for other private companies, including non-executive and trustee positions.

Emma Mifsud
Insolvency Practitioner

After graduating from Leeds University in 2005 with a BA Hons degree in Criminology, Emma worked for a regional law firm in both the property department and insolvency and banking department. Whilst doing so Emma gained a Graduate Diploma in Law at BPP University.

Emma then joined a national accountancy firm in 2009 gaining experience in personal insolvency before moving to a Leeds based firm. At this firm Emma specialised in bankruptcies, IVA’s and negotiating informal agreements with creditors. In 2013 Emma gained her CPI qualification.

Since joining the firm in December 2013, Emma has taken on a portfolio of personal and corporate insolvency cases to extend her knowledge and expertise in all areas of insolvency.

In December 2017 Emma become a licensed appointment taker under the Insolvency Practitioners Association, she is JIEB qualified.

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