Surrey based metal plating company

We assisted the directors of a family company make CVA proposals to their creditors, which if accepted would have resulted in creditors receiving £1 per £1 of debt. However this was rejected by creditors. The directors had no alternative but to appoint us as Administrators.

Within two weeks of being appointed we accepted an offer for the business and assets from a Management Buy In investor. A sale was concluded which resulted in the business being saved and approximately 25 jobs.

Norfolk based orangerie manufacturer

In late 2006 we were appointed as administrator of high quality manufacturer of orangeries and pool houses. The company employed approximately 30 people in Norfolk and five in its London sales office.

When we were appointed there were four building being installed and approximately 20 in the workshop.

After extensive marketing we sold the business and certain of the assets to a competitor. Unfortunately we had to close the factory and London office. However with the assistance of a quantity surveyor we have overseen the completion or assignment of all of the contracts in progress.

Devon based Mail Order Catalogue Company

Following an introduction from a corporate finance client we were introduced to a long established mail order catalogue company that specialised in customising and embossed goods. The company had suffered from foreign imports and the ravages of the internet, and being in a seasonal business was faced with another six months or so of heavy expenditure with little return just to keep the business afloat. All this would have been at the expense of the bank overdraft which the directors had personally guaranteed.

The decision was taken to place the company immediately into administration, and as a result of a sealed bid race between several interested parties the company’s intellectual property and other assets were sold for a figure well in advance of the agents valuation, which translated into an improved dividend to the creditors in the subsequent liquidation, and in addition meant that the directors personal guarantee from the bank was not called.

Somerset based - Performance car centre

We were appointed Administrators of a garage which specialised in tuning cars. Whilst we had to close the business following our appointment, we subsequently sold the freehold site for a sum significantly in excess of our agent’s valuation.

This resulted in the Bank being repaid in full and the guarantors being refunded all the monies they had paid to the bank under the terms of their guarantee.

Various retail outlets

In recent years were have been appointed Administrators to a number of retail outlets including an Oil & Vinegar franchise in Kent, a West End fashion store, a Columbia outdoor clothing store in Richmond, a company with coffee outlets in Lakeside and Southampton and a CD retailer with outlets in Wimbledon and Uxbridge.

In all cases we maximized realisations be trading the outlets in Administration. By holding “Closing Down” sales we achieved significantly better realisations for stock than if the outlet had been closed and the stock sold to jobbers.