Online Fashion Retailer
An over-investment in seasonal stock followed by a sharp drop in consumer spending left our client with high VAT arrears and a loan they couldn’t repay.
Location
Oxfordshire
Debts
21,000
Creditors
Suppliers and VAT
Duration
7 Weeks
Stock Images Used
Our client says...
I was terrified about the implications of several loans and what HMRC’s next move would be. Between a sharp decline in consumer spending and mounting VAT and PAYE arrears, the business was paralysed. I spent every day dreading the mail and worrying that my personal future was at risk because of the company’s inability to meet its tax obligations.
From the very first phone call, Simple Closure provided the straight-talking, legal path I desperately needed to follow. They didn’t judge the situation or the mistakes made; they simply got to work. They immediately stepped in as the primary point of contact, taking over all direct communication with HMRC regarding our unpaid taxes and the complexities of the loans.
Their team oversaw the professional liquidation of our remaining stock to ensure we maximized the return for our creditors, fulfilling my legal duties as a director.
Having them handle the heavy lifting allowed me to step back from the front line of a failing business and focus on my next chapter.
If you are currently struggling with a company you know you can’t save, these are the only people you should call to ensure a compliant and stress-free closure.
Outcome
Facilitated a Creditors’ Voluntary Liquidation (CVL) and disposal of inventory. Dealt with HMRC
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