MKM COMPLETE CLOSURE IN LIQUIDATION

Anthony Deacon has spoken to Service Dealer this week about completing the closure of his dealership in liquidation.

Anthony explained, "Since announcing the planned closure at the end of November of my business MKM Agriculture LTD, we experienced a turbulent trading period. Despite best efforts to close and remain solvent I received professional advice and instructed an Insolvency Practitioner to enter the company into voluntary liquidation.

"The balance sheet was monitored very closely and although this process was not one I had undertaken previously, I believe we did everything possible to carry out a successful closure in very difficult circumstances. Most of our suppliers were supportive, however some made it very difficult to trade and we were unable to complete some of our work in progress and also fulfil outstanding stock orders due to our supplier accounts being closed early."

Anthony continued, "We also had creditors appearing from areas we had not considered and some demanding overinflated early termination charges for existing contracts. Staff moral was expectedly low, customers with outstanding debts were reluctant to pay and the whole experience was challenging to say the least."

The liquidator is now handling what is left of the closure, says Anthony, alongside their jointly appointed agent dealing with the sale of all remaining stock and assets.

He told Service Dealer, "For me I now feel free, relieved and no longer under the pressure I have not been able to escape for a very long time. My time is split between assisting with the sale which is due to end next Tuesday 11th February at 11am; looking for a new adventure hopefully still within the industry; and catching up on lost time with my family.

"In the meantime I have partnered with a local company to assist with purchasing pre owned ATVs, UTVs and groundcare machinery which is very busy and I’m buying as much as possible."

Anthony has agreed with Service Dealer to write his story in an upcoming edition of the magazine later in the year. "I feel I have lots in common with many business owners in this industry," Anthony confirmed, "and hopefully I can offer some help and support."