Ashton Medical & Opthalmic, a manufacturer of high precision micro surgical ophthalmic instruments, was loss-making and decided to cease production requiring the production machinery to be sold.
Firstly, to stem losses an insolvency practitioner was appointed to put in place liquidation procedures.
Given this protection the production machinery was prepared for sale and marketed in local and European markets. An on-line auction sale achieved sales in excess of realisation to the pan-European buyers.
The inventory of finished goods was marketed and successfully sold to the existing customer base.
Having acted quickly the business staved off further losses and the auction sale maximised asset realisations improving the net outcome for the creditors.
“Fantastic, thanks for all your hard work. “