Bikebitzuk

[Snowy]

Looks like its in trouble. Shame, another one on its way out leaving less choice all round.

http://www.bikebitzuk.co.uk/index.ph...or_maintenance

[Swanny]

One by one they fall

[Col]

;D ;D ;D love it

'under advisement from an Insolvency Practitioner'

advisement is ..... yer fooked ;D ;D

[Ade]

yeah .. but not so funny for the staff who could be made redundant if the business has an Administrator or Receiver appointed and they don't consider it to be a going concern that they could trade on in the hope of finding a buyer.

[Mitch9128]

Very small outfit in the midlands, maybe 2 people at most, tbh i've never used them before.

[Trev]

;D ;D ;D love it

'under advisement from an Insolvency Practitioner'

advisement is ..... yer fooked ;D ;D

Not necessarily, five years ago our business took the scary step of asking our accountants Insolvency supporter to help and after 12 months and a huge amount of hard work and dedication from Directors and staff we had turned the business around. Afterwards though the chap did tell me that only 1 in 20 of the businesses they go into can be turned round, all depends on how early they are engaged, how far the business is gone and how prepared the owners are to put their backsides on the line.
Not an experience I enjoyed but one I massively benefited from in the long term
Good luck to anyone in the same situation, you're going to need it

[Col]

Isn't it easier to simply liquidate all assets and make payments to creditors and if bothered start a new company ...heard of this happening a few times

[BB]

Probably depends how honorable you are and if you care about your employees, suppliers etc...

[Dabz]

Isn't it easier to simply liquidate all assets and make payments to creditors and if bothered start a new company ...heard of this happening a few times

horrible thing to do. People who do that should be banned from running their own business in future. Too much of this about in my opinion...we've had a number of customers (well, ex-customers - wouldn't deal with them again) do this with no thought or respect for those they are leaving with a financial headache

[redken1]

[quote author=Col link=1353005663/6#6 date=1353107043]Isn't it easier to simply liquidate all assets and make payments to creditors and if bothered start a new company ...heard of this happening a few times

horrible thing to do. People who do that should be banned from running their own business in future. Too much of this about in my opinion...we've had a number of customers (well, ex-customers - wouldn't deal with them again) do this with no thought or respect for those they are leaving with a financial headache[/quote]

+1 and those who start up again in wife's name. > :-X