Updated: Jul 3
Malton, North Yorkshire | Controlled Wind Down & Liquidation Planning
"Having traded through the first 12 months of a CVA, we were introduced to J9 Advisory by one of our funding providers, due to their concerns around the future viability of the Company.
At the time, we did not see the need, and certainly did not want to incur the cost involved, however, due to the funders wishes we reluctantly proceeded.
Johnny spent time to discuss the details of our business and built a picture of how the next 12 months would look financially if we carried on trading as we were.
Some difficult and heated conversation took place, however, the benefit of this exercise soon became apparent, as it enabled us to understand where the business was going wrong, and where it was heading if we continued as we were.
He assisted us to create a plan to move forward to restructure the business, and assisted with raising the funding required, and also helped to reduce Creditor and in turn our own personal exposure.
We would speak many times everyday to ensure that things were being completed to hit the timescales required, whilst keeping all relevant parties appraised of the situation so that we could concentrate our efforts on what we needed to do to successfully implement the restructuring plan.
Fees were agreed and fixed up front, so that there were no surprises, even when Johnny went above and beyond his original agreed remit of work!
We are continuing to work with J9 Advisory and would recommend their services to other Companies who have found themselves getting into difficulty."