13 Dec A childcare centre
Capability: Insolvency
Industry: Childcare
Appointment: Creditors’ Voluntary Liquidation
Overview
The company used to run a childcare centre. It closed some years ago after a dispute with the landlord. The company then received a statutory demand for an unpaid debt. It had no funds and could not pay.
Challenges
In early discussions with the director, we found that a creditors’ voluntary liquidation was the appropriate way to wind up the company.
Solution
We explained the liquidation process to the business owners, including the likely costs and the time it would take. The owners paid the costs of the liquidation upfront, and the company was placed into liquidation.
How Greengate Advisory can help
We review trading performance and non-financial factors to improve the outcome for every stakeholder. If a restructure is not possible, we look at every option to find a better outcome for all stakeholders.
