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|Friday||- 09:00 to 17:30|
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I had spoken to several Insolvency Practitioners about ZH Ltd company debts, and they all recommend that I liquidate my company. However, we based the business model on a strong personal brand, and I could not afford to risk the PR damage a liquidation would cause. We were trading profitably and felt I had a moral duty to repay the legacy debts, who on the whole were small businesses like mine. Furthermore, I had personally guaranteed the debts, and it would have been a disaster if I was personally subject to litigation and or formal insolvency proceedings. 4R negotiated a twenty-four month Time to Pay Agreement with all creditors, offering them a monthly payment validated from our cash flow. This plus fresh funding allowed me the time I needed to trade out of insolvency and repay creditors in full with no damage to my brand.
I know there would not be a SA** Ltd with all the hard work you and Adam have put in and it is very much appreciated. Even though this problem consumed the last three years, the rescue and recovery strategy you devised and managed with us never compromised the standards of the company. We were insolvent with debts of over £3M, and today we have a cash surplus of over £1M in the bank. You stuck with us from the initial cash crises through the recovery over five years ago.
Our family-owned business MM Ltd had taken 20 years to build. In 2012 we lost significant market share and lost over 85% of our sales revenue in one year. 4R Business Recovery organised a Company Voluntary Arrangement to manage our debts over five years, giving us protection from legal action and time to restructure and recover. 4R arranged both new funding facilities from a High Street Bank to improve cash flow and angel investment, including cash from their own investment company “Incubator Capital Partners”. This financing gave us time to get back lost market share with new product development, it also allowed the board to acquire competitors and grow revenue to £3.2M by 2019. In 2019 we sold the business for £4.6M to an AIM-listed PLC, and this enabled the family and investors to exit with significant upsides.
4R advice and guidance worked perfectly for us, and I would recommend 4R Business Recovery to any other business owners confronting business debt problems
The advice we received from 4R was second to none, there was always someone at the end of the phone, and to have someone like 4R to advise was very important to me. They gave us a second chance.