When Compulsory Liquidation can reap rewards


Updated: 4th December 2018

When Compulsory Liquidation can reap rewards

The assets of a 39-year-old family business were bought out of provisional liquidation by a new company, enabling manufacturing to restart with potentially around 30 new jobs. After being placed in liquidation, lack of cash flow made trading impossible with regrettably, no option but for the factory to close and all staff to be made redundant. The team in Scotland generated a welcome level of interest through a targeted marketing campaign, swiftly completing a deal and avoiding major disruption to product supply. This successful outcome saw the factory reopen and new jobs created.


About the author

Ken Pattullo

Regional Managing Partner

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Ken joined the Glasgow office of Begbies Traynor in 2003, before overseeing the firm's expansion into further offices in Edinburgh, Dundee, Aberdeen and Belfast. He previously worked at KPMG, Ernst & Young and PricewaterhouseCoopers in Scotland. He has a broad range of experience in Corporate Rescue and Recovery, as well as in turnaround and restructuring, corporate and personal insolvency, investigations and IBRs.

Specialisms: Licensed trade, haulage, property investment/development, construction, agriculture engineering/manufacturing.

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