According to the the BBC, Avalon Guitars, is going into
liquidation
Avalon Guitars, based in Newtownards in County Down, has made customised
guitars for hundreds of international artists.
Customers have included Bruce Springsteen, Van Morrison, Bob Geldof,
David Gray and Katie Melua.
Avalon Guitars employs six full time staff and describes itself as the
leading maker of premium custom guitars in the UK & Ireland. It has not been revealed why the company has gone into liquidation but a futher statement is expected
This blog aims to keep people uptodate with companies that have gone into liquidation. It also aims to inform the public and professionals on the liquidation tools available to people to ensure they can cleanly close down a business.
Friday, 25 May 2012
Tuesday, 15 May 2012
Daysdrove in liquidation as local project fails
Daysdrove, a south Shropshire abattoir, has entered voluntary liquidation with 13 job losses. The business had been reopened by private investors in 2009.
The abattoir was intended to provide an alternative market for local livestock for sale into the region’s traditional butcher’s shops.
“The business model has proven to be unsustainable in the current climate,” said a spokesperson for the company. “Our scale of operation is simply too small to compete with the major retailers who are able to sell discounted meat to generate footfall."
It is hoped that the abattoir will be sold to try and generate returns for creditors.
The abattoir was intended to provide an alternative market for local livestock for sale into the region’s traditional butcher’s shops.
“The business model has proven to be unsustainable in the current climate,” said a spokesperson for the company. “Our scale of operation is simply too small to compete with the major retailers who are able to sell discounted meat to generate footfall."
It is hoped that the abattoir will be sold to try and generate returns for creditors.
Tuesday, 8 May 2012
Cream worldwide faces liquidation
Cream worldwide, the St Ives-based, internet marketing company is on the verge of liquidation as it has failed to keep up with payments agreed in its company voluntary arrangement which was approved last February. The payments were set at £4115 per month for 5 years. Fiona Grant of Wilson Field, who are the supervisors of the CVA, have said that the agreement is no longer viable not helped by creditors venting their fury online.
If the company cannot pay the dividend then the supervisor will have no option to petition that the company be wound up. However, a creditors meeting will be held at Best Western Orton Hall Hotel and Spa, The Village, Orton Longueville, Peterborough PE2 7DN at 11.15am on May 10 to see if an amendment could be made. Given the negative publicity surrounding this firm this may not be possible.
The firm had debts of £700k and owed its employees £130k. In a CVA of course the firms employees would have received arrears of pay upto £400pw as at last year. Of course this may not cover the higher paid people in the firm.
If the company cannot pay the dividend then the supervisor will have no option to petition that the company be wound up. However, a creditors meeting will be held at Best Western Orton Hall Hotel and Spa, The Village, Orton Longueville, Peterborough PE2 7DN at 11.15am on May 10 to see if an amendment could be made. Given the negative publicity surrounding this firm this may not be possible.
The firm had debts of £700k and owed its employees £130k. In a CVA of course the firms employees would have received arrears of pay upto £400pw as at last year. Of course this may not cover the higher paid people in the firm.
Thursday, 3 May 2012
Darlington FC Faces Liquidation Today
DFC 1883 is trying to save Darlington FC but it may need to go into liquidation as the deadline for them to offer to buy the club is Noon today. The administrators had hoped that the company could exit its administration via a CVA but it appears that door has been closed as DFC 1883 did not have enough funds to pay the creditors. It is has been reported that their have been complications with their attempt to buy.
As such, the likely option may be to allow the club to go into liquidation and then for DFC 1883 to try and buy the assets and start again via a phoenix company
As such, the likely option may be to allow the club to go into liquidation and then for DFC 1883 to try and buy the assets and start again via a phoenix company
Monday, 30 April 2012
Energy Saving Group Liquidation
Creditors have been advised that next week is their last chance to get money back from ESG which is the trading name of Energy Saving Improvements Ltd and operated from Redditch and has been placed into liquidation.
The firm sold Solar panels for £500 and then failed to fit them or refund money when they failed to arrive.
So what will happen at the creditors meeting scheduled for this week? A liquidator will be appointed by the creditors and they will go about trying to sell any remaining assets of the firm, collect in any debts and redistribute any reserves to creditors. The liquidator will write a report outlining the state of affairs of the company and if necessary they have the power to investigate any fraudulent or negligent behaviour of the directors. Unfortunately it is unlikely that unsecured creditors will receive anything much
Read our 5 steps to liquidation
The firm sold Solar panels for £500 and then failed to fit them or refund money when they failed to arrive.
So what will happen at the creditors meeting scheduled for this week? A liquidator will be appointed by the creditors and they will go about trying to sell any remaining assets of the firm, collect in any debts and redistribute any reserves to creditors. The liquidator will write a report outlining the state of affairs of the company and if necessary they have the power to investigate any fraudulent or negligent behaviour of the directors. Unfortunately it is unlikely that unsecured creditors will receive anything much
Read our 5 steps to liquidation
Thursday, 19 April 2012
Ayr Station Hotel Liquidation Rumours
The Ayr Station Hotel which usually has lots of guests for the Scottish Grand National is rumoured to close during the event. No one has told the 140 likely guests on their way apparently.
The locals have pointed out that the hotel's parent company is in liquidation, the lifts have been shut down and there are no gas and electrical safety certificates in place. Last year the hotels boiler broke down during the Grand National weekend leaving all guest without hot water. The local council has served notice that the safety certificates be obtained as soon as possible but have stopped short of closing the hotel. Hotel staff have declined to comment.
It appears that this hotel has had a chequered history as numerous owners have gone bust before. So why is it that certain hotels have this history. It may be simply that bringing a hotel up to standard is always more expensive and difficult to do than the new owners often appreciate..
The locals have pointed out that the hotel's parent company is in liquidation, the lifts have been shut down and there are no gas and electrical safety certificates in place. Last year the hotels boiler broke down during the Grand National weekend leaving all guest without hot water. The local council has served notice that the safety certificates be obtained as soon as possible but have stopped short of closing the hotel. Hotel staff have declined to comment.
It appears that this hotel has had a chequered history as numerous owners have gone bust before. So why is it that certain hotels have this history. It may be simply that bringing a hotel up to standard is always more expensive and difficult to do than the new owners often appreciate..
Tuesday, 27 March 2012
Senkai is in liquidation after just 6 months trading
Senkai, the Japanese restaurant based Piccadilly, London has gone into liquidation after just 6 months of trading with Duff and Phelps acting as Liquidator. The restaurant had 125 covers and a dining bar and cocktail bar with capacity for another 100 and specialised in sustainably sourced fish. Senkai was owned by the Ignite Group who have a number of other brands such as Bumpkin. Ignite Group, formerly known as Eclipse Bar Ventures, was founded by Matt Hermer and Paul Deeming in 1998.
According to Caterer and Hotelkeeper, a spokeswoman for the Ignite Group said: "Sadly, Senkai Restaurant Ltd has ceased trading and the company is being placed into creditors' voluntary liquidation.
Subscribe to:
Posts (Atom)
