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Case Studies

A shaky start, but now a cutting-edge and award-winning business

We were first approached in 2005 by an operator that was currently trading a very difficult public house in North London, you may ask why was it “difficult” because upon first impression it felt as though this house had great potential. However, in reality, because of the erroneous full tie, high rent and small bar, it was obvious to the seasoned eye that this house was unlikely to increase its turnover.In truth, it really was heading for the buffers It needed to increase its turnover dramatically and this was to just achieve a breakeven position.
 
Our advice to our client was simple – to rid himself of this unprofitable and potentially damaging premises. We saw that the premises was held under a tenancy and that it was being traded through a limited company. There was no personal guarantee involved so we negotiated with the landlord to return the premises, furthermore, the company was not able to pay its debts, as and when they felt due. We felt that in the circumstances it may be deemed that the company was insolvent. As it is a criminal offence to trade whilst insolvent, we suggested that the company be placed into voluntary liquidation.
 
We provided a strategy for going forward, we aimed to protect our client from what is basically a very difficult and stressful situation. That said, prior to the liquidation and on a positive note, we encouraged our client to look for other premises. He found new premises and opened the following year – we assisted him in structuring his new business this enabled him to grow and develop. A further public house came the next year and within the space of four years he now has five public houses and he’s looking to purchase a further three within the next two years. Throughout the process of the growth, we have acted as his accountants, bookkeepers, HR Department and payroll bureau, furthermore have given help and advice in all areas of finance and taxation. There have been some difficult times over the last few years mainly due to the accelerated growth, however we have always kept a close eye on our client (at the risk of sounding like a headmistress, I of course mean ‘working hand-in-hand’ with our client) and have always been available to give advice as and when required.

 

Why Volensis was right for this business…

We believe that one of our major assets is the years of experience we possess twinned with what we like to think of as an uncanny intuition. Armed with these, we can see quite clearly when things are going wrong, conversely we plan and strategize for success not failure.

The stats speak for themselves

80% of our clients grow their businesses and increase turnover year-on-year.

62 Camden Road, London, NW1 9DR