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Rescuing an insolvent cladding company with £50,000 of debt

The client

Our client, a busy cladding company, needed quick, effective, and expert advice when they found Future Strategy.

Trading difficulties had left the company with £50,000 of debt. And with £14,000 owed to HMRC in VAT alone, the business was well beyond the point of being insolvent.

The prospect of ongoing work seemed slim, so the firm reached out to Future Strategy via our website.

Our process

As soon as our clients’ inquiries made their way to our inbox, we responded with a phone call to assess the situation.

The best course of action was clearly to close the company as promptly as possible, with the following action plan:

  • Cease trading immediately
  • The company’s address was moved to our premises in Plymouth
  • A carefully worded statement of affairs was drafted and sent to all creditors
  • We managed the process of dissolution from start to finish

The result

Our client’s business was promptly closed after 90 days, despite a County Court Judgement from one of the creditors, which was swiftly dealt with by Future Strategy. The company (and its debts) were struck off the Companies House register.

We can talk you through all of your options and find you the right solution