- Cash flow became unmanageable due to an unforeseen downturn in trade. After strong
growth in turnover between 2016 and 2019, the agency lost 80% of its clients in a short
period of time. Due to cash flow difficulties the company was forced to reduce its marketing
budgets and ongoing trading became almost impossible. - The company incurred a large debt to HMRC and also incurred debts to the agents
contracted by the company. - The Business Debt Advisor worked closely with the company’s directors to compile
business for sale particulars and engaged with multiple interested parties having global
reach in the online marketing industry to try and achieve a sale of all or part of the
company’s business. Despite the efforts of the parties and after ongoing negotiations, it was
concluded that a sale could not be achieved and the directors took the decision to place the
company into liquidation. - The Business Debt Advisor helped all redundant employees with claiming monies owed
from The Redundancy Payments Service. We dealt with all communications with the
company creditors throughout the investigation process.
The directors of the company were guided through the liquidation process from start to finish
by the team at The Business Debt Advisor. Although the parties were disappointed it was not
possible to save all or part of the business of the company it was clear to the directors and
the creditors of the company that every effort possible had been made to achieve the best
outcome.
