Saving Jobs and Easing Pressure in a Struggling Retail Business
When K felt like everything was crumbling around them, a friend recommended Springfields and that changed everything.
Client Profile
Owner of a multi-location retail business facing closure.
The Challenge
K’s retail business had been hit hard by the downturn in the high street. Footfall was falling, and rising rents added unsustainable pressure. The closure of their most profitable store due to a landlord dispute was the final blow.
With mounting debts and uncertainty, K and their business partners feared they couldn’t even afford the cost of liquidation.
How They Found Springfields
K was introduced to Springfields through a personal recommendation. A friend had previously used Springfields for a solvent liquidation and spoke highly of the team’s calm, clear and honest approach.
How Springfields Helped
Springfields stepped in with a fresh, experienced perspective. Situl and the team calmly assessed what was salvageable and what needed to be let go. They guided K through a Creditors Voluntary Liquidation (CVL), identified valuable assets, and arranged the sale of the online operation and one remaining profitable shop.
This not only maximised returns for creditors but crucially, saved several jobs that were on the line.
The Outcome
K described the process as a journey from fear and confusion to understanding and relief. Although they had limited knowledge of insolvency, Springfields’ hands-on approach and clear explanations made a stressful situation manageable.
“It was a huge relief. Having gone into it not knowing how we were really going to handle it; it was a huge relief.”
What stood out most to K was the direct, personal support.”
I would definitely recommend Springfields. I felt I was talking to the person who would make the decisions, not passed around a big firm structure.”
Key Results
- Part of the business saved and sold
- Jobs protected
- Creditor value maximised
- Client felt empowered and supported throughout
- Referred by a trusted contact
Why Springfields?
They brought calm to chaos, offered practical options no one else had, and stayed by the client’s side every step of the way.
If you would like to talk please call us on 0116 299 4745 or email info@springfields-uk.com
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