FOR SALE: Assets of glass manufacturer Handy Glass Limited
Under the instruction of the Liquidator, the assets of Handy Glass Limited are for sale. Assets include Hot melt, benches pressure washer, Mitre saw and more
The link to the sale is below, Lot numbers are 1A - 1J
Bidding now open online
Sale Date: Ends: THURSDAY 27th Dec 2018 from 3pm onwards.
Location: 50 Chequers Road, West Meadows Industrial Estate, Derby, DE21 6EN
Viewing: MONDAY 24th Dec 2018 from 8:30am-2pm
For notification of future liquidated assets and businesses for sale please subscribe to our "For Sale" newsletter online at www.lminsolvency.co.uk
...CONFIDENTIAL BUSINESS SUPPORT AND ADVICE TOO
With this post we wanted to highlight some of the other important services we offer, when directors and partners of companies need financial and business support.
CASE STUDY - HOSPITALITY CLIENT & BANK LENDING
The client will remain anonymous, as the services provided were business support and advice and not a formal insolvency. This particular client was within the hospitality sector, although these services can apply to any.
In November, a restaurant/hotel had breached its overdraft limit, and was struggling to manage cash-flow with the limits of the agreed overdraft, as a result the owners of the business had been requested by the bank to undergo a independent business review in order for the bank to assess whether the business was insolvent or whether they would be prepared to continue supporting the business, and if so on what terms.
The key issues were;
As such the owners felt an overdraft of £50,000 was required short term to see them through over the Christmas period and low season, compared with an agreed overdraft facility of £20,000.
LM Insolvency & Advisory Limited carried out a review of the business and possible improvements, cost savings and management of the cash flow. The outcome was to reduce the lending requirement to a peak of £40,000, in addition the review was able to provide the bank with comfort of the business's ability to repay the overdraft during the forthcoming peak season.
Alternative options including other lending and formal insolvencies were discussed with the owners and considered so that an informed decision on the way forward could be made.
The final outcome was an agreed temporary overdraft with the business's current lenders for the £40k to April 2019, providing the owners with certainty of trade over the Christmas period and the comfort in the medium term of the support whilst they seek to trade through the cash flow difficulties, and implement changes that would bring about higher efficiencies and cost savings.
Whilst we unable to provide the full details of this case, due to confidentiality of the client, we hope this highlights some of the other services we offer, including, but not limited to, independent business reviews, cash flow, management and forecasting, stakeholder management in particular creditors. Should you relate to any of the above issues, or are interested in our business support services please do not hesitate to contact Lucinda at email@example.com or call 07972928153 for a coffee and chat to discuss further.
HANDY GLASS LIMITED (in CVL) - Appointment of Liquidator
Handy Glass Limited operated as manufacturers of flat glass products from Acorn Place, Alfreton Road, Derby
If you are a creditor, supplier, customer or other stakeholder of the Company and require further information contact LM Insolvency and Advisory Ltd on Tel: 07972928153 or email firstname.lastname@example.org
Licensed Insolvency Practitioner.