Turnaround Finance: MAIL ORDER AND INTERNET GIFT CATALOGUE

BUSINESS TYPE:	MAIL ORDER AND INTERNET GIFT CATALOGUE
LOCATION:	MODBURY, DEVON
RESTRUCTURING:	MANAGED CLOSURE

This client was introduced to us by our associate company Beer & Partners Ltd due to the extremely urgent nature of the situation. Having been engaged by them Beer & Young Ltd quickly saw that events were overtaking the situation, due to the client seeking help with a CVA (Company Voluntary Arrangement) through his West Country based accountant. It quickly became clear that the IP (Insolvency Practitioner) appointed by the accountant was not taking sufficient account of our clients welfare, so we immediately were able to introduce our own IP who took control of the situation and enabled the client to still end up working for the new owners of the business after it’s administration was completed.

We were recommended to engage Beer & Young Ltd having first approached Beer & Partners Ltd. Beer & Young quickly took control of the situation and stood by our side through what was an extremely difficult time both business-wise and personally for us as a husband and wife team. Our family home was at risk due to the personal guarantees given to our bank and it was very reassuring and helpful to have the professional and experienced assistance provided by Beer & Young Ltd during this difficult time.

Although we were unable to keep our business because we had left it too late to seek the professional help we needed, there is no doubt that Beer & Young Ltd were able to ensure that the best possible outcome was achieved.'

JP-B, Managing Director