Financial Advisory
Leonardcurtis
Full Credential Description
The client, an established online retailer based in the North West, faced a significant cash flow crisis due to the sudden withdrawal of critical lending facilities, which included a £1 million credit facility and a subsequent loss of £900,000 in overdraft and trade loan facilities. This created an immediate £1.9 million shortfall, severely impacting the companys ability to meet its VAT and supplier payment obligations. Compounding the issue, the client was confronted with a £1.2 million liability to HMRC, leading to a visit from HMRC officers who intended to list the companys assets for auction to recover debts. In response to this crisis, the director sought assistance from Leonard Curtis, who provided tailored support through their restructuring and insolvency team. They discussed potential insolvency options while the business advisory team worked to negotiate a favorable Time to Pay (TTP) arrangement with HMRC. Leveraging their extensive experience with HMRC, Leonard Curtis engaged in proactive negotiations that resulted in a successful three-year TTP arrangement for the £1.2 million debt. This strategic solution allowed the client to continue trading, protect five jobs, maintain its warehouse stock, and avoid a forced insolvency process, ultimately stabilizing the businesss cash flow.