A company providing a service analysing the composition of waste for local authorities across the UK, and the government’s waste and recycling agency, has ceased trading and gone into liquidation. Paul Harding and Graham Down, of tri group, have been appointed as Joint Liquidators.
The company, Waste Intelligence Limited, based in Wem, Shropshire, started trading in May 2013. However, by January 2015 the company was struggling although the directors were confident at that time that the company’s performance would improve. Sadly, that was not to be and the company has now gone into creditors’ voluntary liquidation, with total debts of some £125,000.
Paul Harding, Joint Liquidator, commented: “The company’s demise was brought about by a number of factors, including:
• Cutbacks in local authority and central government budgets;
• Severe competition;
• Price-cutting by large service providers.
“It’s vital that businesses have a realistic business plan, including financial forecasts, and regularly monitor their actual trading performance against what was predicted. When the business seems to be underperforming or failing to achieve the expected levels of business, advice needs to be sought promptly if there is to be any chance of avoiding failure.
“My colleagues and I at tri group have vast experience of dealing with underperforming businesses of all shapes, sizes and complexity, and across a wide range of industries. We don’t charge for an initial conversation and diagnostic meeting, so there’s no reason not to call us.”