Manufacturer and Retail Business
19/01/2017 | Creditors Voluntary Liquidation
In December 2016 Griffin & King were approached by a menswear manufacturer and retailer. They were experiencing difficulties and could not see a solution to their problems.
The business was a group of several company’s and had a successful online and mail order presence which was generating a good amount of sales. However, as this became more and more successful the company decided to expand into the retail sector. They opened up a shop in a leading retail centre in the heart of a city.
As the operations developed side by side it became clear that the retail unit had not been as much of a success as the director initially projected and was only continuing to trade from the on going support of the website. The Director did not know where to turn.
The Director sought advice from Tim Corfield of Griffin & King. It was at this point Tim’s advice ensured the survival of the business. Advising that a Creditors’ Voluntary Liquidation of one of the groups company’s enabling a restructuring and ceasing trade from the failed retail unit and in turn ensured that this group had a future and had chance to return to being successful and profitable.
If you are experiencing difficulties please call Tim 01922 722205 or Janet, Richard or Emma or any one of the experienced team.