Lesley’s Experience with insolvency & Lines Henry

Insolvency Case Manager, Lesley Derbyshire, has produced an insightful video on what it is like for business owners to start Insolvency procedures and go into Liquidation.

Lesley knows better than anyone what it is like to have an insolvent business and have to make difficult choices such as setting up a company voluntary arrangement (CVA) going into administration or even Liquidation. This is because, before Lesley started working for Lines Henry, she was a client, a Director of her family business, and through unforeseen circumstances and economic changes, Lesley saw her once profitable business start to lose money and become insolvent.

Watch Lesley's video on her experiences, from realising her business wasn't solvent, to getting in touch with an insolvency practitioner and getting insolvency advice.

Lines Henry have produced a number of videos going over the most common issues we see from clients. View our videos to learn more about insolvency procedures, such as bankruptcy and liquidation.

Director, Neil Henry and Insolvency Case Manager, Oliver Thompson have created videos explaining some of the procedures to help you better understand Insolvency and what it means for you and your employees.

Licensed Insolvency Practitioners

Lines Henry is a firm of Liquidators and Licensed Insolvency Practitioners who offer a professional service which is tailor-made to individual needs. Our Directors and staff have many years experience in helping both individuals and businesses to resolve financial problems.

Our Insolvency Practitioner Directors are regulated by the Insolvency Practitioners Association. In short, you can rely on us.

We can provide a solution to your debt problem allowing you to take back control of your finances without taking on another loan.

We have provided insolvency advice and business recovery planning to numerous insolvent individuals and insolvent companies throughout the UK.

What will it cost me?

Lines Henry do not make any up-front charge or consultation fee. All initial meetings are free and at that meeting we will gather all relevant information and discuss any future charges that will be incurred. It will not cost you anything to call us, so why not ring and see if we can help?

The following pages will explain how and where we can help you. However, if you need urgent personal advice, why not ring our freephone Helpline now on 0800 012 6649.

Business recovery professionals and Licensed Insolvency Practitioners, whether you need advice on business debt, considering voluntary liquidation, or business bankruptcy you can take advantage of our free consultation service.

Insolvency Advice, MVL’s, Business Recovery and Liquidation

Lines Henry has years of experience helping businesses prevent liquidation but in some cases liquidation is inevitable, and this may be voluntary liquidation or compulsory liquidation.

There are two types of voluntary liquidation; solvent members’ voluntary liquidation, or insolvent creditors’ voluntary liquidation.  In the case of a members’ voluntary liquidation (or MVL) the company is solvent with all creditors being paid in full and any surplus being distributed to the shareholders.  In the last two years, this has become an important route for director/shareholders to enable them to get access to the capital in their company on cessation, utilising the 10% Entrepreneurs Relief Tax route.

In a creditors’ voluntary liquidation (or CVL) the company has insufficient assets to pay all of its creditors in full.  Where the company directors decide to close down the business, which may be for a number of reasons, sometimes a liquidation is not the only option available and Lines Henry offers business advice to help prevent this.  However, if you feel the best option for your company is liquidation you can speak to Lines Henry in confidence.

Insolvent Liquidation can be a compulsory liquidation or a creditors’ voluntary liquidation, and occur when a company has accrued a lot of debt, creditors voluntary liquidation is when the company decides to wind up the company to pay off debts, compulsory liquidation is when creditors petition to wind up the company to settle the debts they are owed.

At Lines Henry we don’t just deal with debt and liquidation, we can also help businesses improve their cash flow and streamline finances to help a business recover from debts. As business recovery professionals we have years of experiences helping businesses recover and thrive, it is important for businesses to get in touch with us early so we can help your business recover and avoid liquidation.

Insolvency Practitioners

If you or your business are in financial difficulties then you need to speak to a Licensed Insolvency Practitioner (IP), the sooner you speak to an IP, the sooner you can get practical Insolvency advice and in many cases, early help can mean business recovery or avoiding bankruptcy. The problem is many people are worried about admitting they need help, don’t worry Lines Henry can offer you practical and tangible advice for your situation, you do not have to deal with pushy sales men but you will speak directly to an Insolvency Practitioner from day 1. We own a business, we know business and we have helped businesses and individuals manage debts and when necessary go through the Liquidation process.

Don’t suffer on your own, get advice from Licensed Insolvency Practitioners sooner rather than later.

Company Voluntary Arrangements (CVA’s)

In a similar process to IVA’s, Company Voluntary Arrangements are a good way for businesses to get out of debt using an agreed payment plan that means the company does not need to go into liquidation.
Debt and cash flow are two of the biggest issues facing small to medium sized businesses and sorting out a payment plan to creditors that is manageable to handle within your cash flow can be the difference between the business succeeding and not. Lines Henry can also help you look at your expenses and business processes to improve your cash flow and manage the finances easier leaving you to get on with business in the area you have expertise.

UK Liquidators in Altrincham, Sheffield, Wigan and Littleborough

Although Lines Henry work with companies all over the UK, we are based in the North and North West with offices in Altrincham, Sheffield, Wigan and Littleborough. By having a presence in these areas we can help deal with local businesses who need insolvency advice and help with Liquidations.

Most businesses get credit locally and their main creditors (apart from HMRC and Banks) will be local companies. We can work locally with yourself and your creditors to make the best arrangements to keep everyone happy during Insolvency processes such as Liquidation.