Testimonials

HOBSONS CHARTERED ACCOUNTANTS
Nottingham

WORK REFERRER

“Barringtons Insolvency Services has delivered an excellent service to Hobsons over the last year. As well as being highly professional and approachable when dealing with us and our clients, by identifying our clients’ needs and thoroughly exploring possible solutions, Phil and the team have distinguished themselves from other Insolvency Practitioners. The wellbeing of our clients is, of course, our main concern and by maintaining honesty, integrity and understanding throughout all of their business processes, Barringtons Insolvency Services make the most daunting situations seem accomplishable, allowing our clients to feel like they are in safe hands at the most difficult of times”

Steve Checkley, Partner at Hobsons Chartered Accountants

 

STONE LABEL AND SECURITY PRINTERS LIMITED
CREDITORS VOLUNTARY LIQUIDATION

“Having a decade of experience working closely with customers and suppliers, I though it was a good idea when approached to purchase the company to run between myself and another employee. Having bought the company we began trading, and after some initial teething troubles I was reassured when orders started coming in from both old and new customers. We were soon approached by an import and export company offering an attractive deal, and after having had the company vetted by a number of sources we travelled to China to discuss the proposition and signed a contract. Contact was maintained daily and we were informed that we would receive the label templates and half of our fee within the next week, however suddenly we became unable to contact the company and the contract could not be completed. In the meantime, a problem in the office resulted in me noticing some invoices were incorrect and other work had not been invoiced at all, at which point one of our suppliers had revoked a couple of large invoices which stopped our cash flow. I then knew I had to explore my options with a professional, and having found Barringtons Insolvency in the Yellow Pages I called the free phone number and spoke to Lucy Hill who ensured we explored every option as opposed to closing doors on certain possibilities. When I did decide on a Voluntary Liquidation, the process was as smooth and reassuring as that initial phone call and with my case closed a year later, I finally felt that my business affairs had been put to rest and I had been given a fresh start. Thank you Barringtons.”

Kevin Prosser, Stone Label and Security Printers Limited

 

STUDIO HINKS FINE CHINA LIMITED
CREDITORS VOLUNTARY LIQUIDATION

“After finishing my job as a consultant I wanted to give something back to the china industry, so with the help of a loan and my own contributions I started a small company employing 17 staff. Whilst making a small profit and although orders from the two main clients began to slow down, a new contract with another large company started to generate orders. Unfortunately payments from other major clients became less frequent resulting in unpaid suppliers and a strain on the business and in turn my personal life. After frequent efforts on my part to chase the monies I was owed, my accountants referred me to Barringtons Insolvency to discuss my options and within two weeks the first creditors’ meeting was being held. Although I felt disappointed to be liquidating my company, I also felt relieved that soon I would no longer have to worry about how I would cover the next bill, or when my next payment would be received. Thanks, Phil, the inherent efficiency and great customer service you and the team offer are second to none.”

John Hinks, Studio Hinks Fine China Limited

 

MR. C INDIVIDUAL VOLUNTARY ARRANGEMENT

“After having used credit over a long period of time to purchase household items and cover living expenses, when my ex wife and I divorced I found myself solely liable for these debts and no longer had the benefit of her income in meeting the payments towards these liabilities. This meant that I began to struggle to meet my credit commitments and whilst I used my half of the equity share in our matrimonial property to clear some of the debts, I was unable to clear them all. I then moved into rented accommodation and soon became reliant on credit to meet my household bills and monthly repayments which left me with the feeling my debts were spiralling out of control. After discussing the situation with the understanding staff at Barringtons, I decided to enter into an Individual Voluntary Arrangement allowing me to make monthly contributions from my income over a period of five years. This solution not only gave me reassurance that my creditors and debt would not cause me anymore stress, but also allowed me to see a light at the end of the tunnel. To date my monthly contributions are going well and I finally feel as if I am back in control of my finances. Thank you.”

Mr. C

PAINT N PAPER (UK) LIMITED
Stoke-on-Trent

A Stoke-on-Trent based retail Home Store consulted Barringtons in September 2005 as they realised that what they had thought was a temporary drop in trade had become a long term decline. This was partly due to changing fashions promoted by numerous home improvement TV programmes recommending painting walls instead of wallpapering them and also to a new superstore being opened in the area. “When we were advised to seek insolvency advice, I was reluctant to call in a firm of insolvency practitioners as I felt they would take over our family business and not let us have a say” said Barry Slann, managing director, “This was a very distressing time for myself and my family and to my relief Barringtons explained the options available to us and were very helpful and understanding throughout.” Lyndon Slann added “With Barringtons’ help we managed to restart our core business of design, flooring and carpet, now trading as Beautiful Floors in Hanley and Macclesfield.” Barringtons was disappointed that the business could not be saved and were initially hopeful that the business could be turned around. It was clear from the outset that the directors and shareholders had put their heart and soul into the business over the years. “Due to their support and co-operation we were able to have a successful closing down sale, resulting in recoveries being made which would not have otherwise been achieved,”

Phil Wood, managing director and corporate recovery specialist at Barringtons.

VICTORIA HEATING AND VENTILATING COMPANY LIMITED
IN LIQUIDATION

Since 1945 we had operated a successful business in various industries including pottery and textiles. During this time we had developed a strong customer base that spread over numerous countries including Australia and Pakistan. However, since 2004 we started to experience bad debt problems, along with this we had an insurance claim and a redundancy payment that cost the company over £30,000. We had still managed to trade up until 2009 when this year alone we had bad debts of over £30,000, in order for the company to survive we took immediate action by putting staff on short working hours in order to reduce the wage costs. However, we still could not cope with all the overheads that had to be paid per month. Therefore we knew we had to seek professional advice if we were to keep trading. We chose Barringtons Insolvency as it was a reputable local business that would offer us much needed independent advice. After one phone call we were offered an initial free consultation to go through all the options available to us, we met and spoke to Lucy Hill from the insolvency team who was very understanding and reassuring throughout. Once in Liquidation, Barringtons were continuously very helpful and supportive, knowing that if we needed any information or advice we could just pick up the phone and contact one of the very experienced insolvency team. It was excellent service.

G. Statham, Director of Victoria Heating & Ventilating Company Ltd.

TECHNORTON LIMITED
COMPANY VOLUNTARY LIQUIDATION

Technorton was established in 1982 and since then developed into a successful manufacturer of Timber Processing Equipment. The company continued to grow and in 2000 moved into a purpose built plant to process more orders that were coming in from domestic and overseas clients. In 2004 we had to lease additional premises to deal with the continuing level of business and the size of the equipment. However by the end of 2008 after a successful exhibition, orders became increasingly rare as customers were both struggling financially and uncertain as to the future economic climate. Payment for one large order which was finished and commissioned became problematic as settlement of the debt became considerably overdue and became an outstanding debt. These increased financial difficulties resulted in our own families investing more cash into the company to offset pressure from our bank to reduce our overdraft. This action gave us a little more time but the company was paying out more money than it was receiving and at this stage we realised we could not continue trading. We decided to contact Barringtons for advice as to our next move. After a free initial consultation when we discussed in detail the options available we decided it was in the company’s best interest to place it in to a Creditors Voluntary Liquidation. Barringtons were invaluable as they relieved the pressure on us as Officers of the company, and supported us throughout the liquidation process. Their friendly and understanding staff has made the liquidation process easier to digest and we are indeed grateful to them.

Harold Bennison, Company Secretary of Technorton Limited.

MR. & MRS. J
INDIVIDUAL VOLUNTARY ARRANGEMENT

In order to pay household expenses I had to use credit cards as our joint income had decreased by £700 + per month as my husband was advised to get a less stressful job due to ill health. Our mortgage interest rate had increased as our fixed rate came to an end and we were unable to get a re-mortgage. My husband’s health requires his stress levels to be kept to a minimum so I was transferring balances from one credit card to another and paying the minimum monthly payments whilst also still continuing to pay the bills and other expenses using credit cards so less stress and worry was caused. By now we had got into so much financial difficulty that we decided to contact Barringtons Insolvency to ask for advice, they were very friendly and understanding. They advised us on the various options available to us and in particular an Individual Voluntary Arrangement. This advice has been invaluable, now we are making monthly contributions to our creditors to help pay them back with minimal stress caused to either of us. I would like to thank all the staff at Barringtons who have helped us in getting our financial problems under control.

Mr. & Mrs. J. Stoke-on-Trent.