Insolvency League Tables Tenon has released the Personal and Corporate Insolvencies League Table for January – August 2011 Kelly Burton

Variety is the spice of insolvency

Our work with businesses brings us into contact with a cross section of organisations up and down the country.

Whether we are called in to advise on an administration or a liquidation, whatever our involvement our primary aim is for a good return for creditors and to save jobs where possible – especially at this time of year and in the run up to Christmas. This often means a better outcome for the owners too.

Our work can take us anywhere from London to Lincoln and involve any industry from construction to care homes, public houses to manufacturers.

Three recent jobs for us in the Leeds office meant I was working in the world of marketing, property investment and road marking – showing that any sector can hit a downturn and need our help.

Kelly Burton - Director & Licensed Insolvency Practitioner

For the first job, CMG (LND) Ltd, I was appointed as administrator back in September after the company, which specialised in marketing in the London property scene, was threatened with a Winding Up Petition following a downturn in business.

I worked with the directors to save eight jobs and secure the future of the company.

Another recent job also involved the property market. Pontefract-based OCS National Services LLP, which dealt with property investment plus office refurbishment specialising in installation of floors, ceilings and glass panelling, had run into financial difficulties following historical bad debts.

The company had entered a Time to Pay arrangement with HMRC but was unable to adhere to the terms. I was appointed as joint administrator with Joanne Wright in September.

The business, which had already made two jobs redundant before our appointment, was sold as a going concern through a pre-pack sale.

Finally, another of my appointments involved a slightly more unusual company based in Lincolnshire which needed our help and was quickly bought out of administration in a pre-pack deal.

Universal Highways Ltd, based in Manby, Louth, specialised in road markings, line markings, signage and floor coatings for roads, car parks, sports courts, schools and playgrounds, factory floors and walkways.

Over its 13-year history, the family business had grown into an industry recognised sub-contractor with repeat contracts across the UK.

Our work saved four jobs at the company. Due to the pre-pack administration it meant these staff were transferred to the new company under TUPE, resulting in a saving of £52k redundancy payments for Universal Highways – and a better position for their creditors.

Whatever the industry or location, Wilson Field can help you and your business. For further details give us a call.

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