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We have helped over a thousand business owners in the last 15 years. We will guide you and advise you on the most appropriate solution, that best suits you and your business.
Rotherham based UPS Courier Franchise Company that operated in haulage and distribution entered administration following difficult external factors that led to “trading difficulties”
Tracy Taylor and Nicola Kirk from Abbey Taylor Ltd Sheffield were appointed as joint Administrators.
Tracy Taylor MD at Abbey Taylor Ltd administrator said, “due to external circumstances including volatile fuel prices and rising agency costs meant the once thriving company led the Directors to place the business in to administration.”
The intervention and negotiations mediated by Abbey Taylor has resulted in the business being sold with a total of 68 jobs saved. Spokesperson Tracy Taylor said, “This is a real good news story for the staff and their dependents. We have negotiated a deal that has been welcomed by the companies’ major creditor Mercedes and the new management team.”
Tracy continued “We have seen a number of once successful and thriving businesses struggle recently due to many external factors often out of their control. Uncertainty around Brexit and the consequence of a weaker pound has hit import costs hard.
Suppliers not paying on time and demanding longer terms – we are hearing that 120 days payment terms becoming the norm. This meant cash flow is put under enormous pressure and in some cases this is becoming unmanageable for many cash strapped firms. The result all too often is a rescue package like the one we have just put in place at Meden.”