Jamie Playford, an insolvency practitioner and director at Leading Corporate Recovery, is seeking a buyer for the business and assets of a Suffolk joinery business after the company suffered cash flow difficulties.
John’s Joinery, trading from Gosford Road, Beccles, laid off its five employees on Monday 10 July citing serious cash flow difficulties as the cause of the failure. The company has liabilities in the region of £100,000 that it cannot meet.
Mr Playford has been appointed by the company’s director to manage the company’s closure if a buyer cannot be found imminently. Mr Playford commented: “The business has suffered hard times and the director has taken the decision to cease before things got worse. When we reviewed the cash flow with the director, it was clear that the company was due to run out of cash within days. We are now looking to find a buyer for the business and assets to recoup money for creditors.”
Mr Playford added: “There is a pipeline of work that is available to anybody who is interested in taking over the business, however any customers’ deposits already paid have been absorbed by the company on the work that has been started. We are happy to liaise with former staff and suppliers to ensure a smooth transition of the business, so we invite anybody interested to contact us.”
For any further queries regarding the liquidation of the company, please contact Kelly Goodman at Leading Corporate Recovery at kelly.goodman@leading.uk.com
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Notes for editors:
Leading Corporate Recovery is Norwich’s fastest-growing insolvency, restructuring and strategic advisory practice, providing help to businesses and individuals across East Anglia and London. Jamie Playford is a director and licensed insolvency practitioner, and a member of the Insolvency Practitioners’ Association and a fellow member the insolvency trade body, R3. Jamie has worked in the insolvency industry in East Anglia since the late 1990s.
