We're sad to have to let you know.......we've had to close our Facility!
honestly, to say we're heartbroken is an understatement
Answers to a few questions
I've put together as many questions that we currently have the answers to in the hope that you can easily find the answer you are after.
Please bear in mind that this situation is neither of our making or choosing.
We've had to let everyone go so that they are free to find other work so the task of wrapping things up and answering all queries is down to me (Rog).
I am now working towards trying to support my family going forwards and am working on other things. I do not have a huge amount of time to continue to support a business that has had to close.
This is an outcome from 2020 lockdowns that we have been working desperately to avoid. At the end of November we'd have been closed for 6 months out of the last 9!
We are still within 3 years of starting out so within our 3rd year of growth to have to close for nearly half of that year has just been too crippling to continue.
At the start of this year we were on track to have our best year yet, the right team in place, the right programmes to support people and the right people benefiting from our unique service.
It's heartbreaking to have to close the doors but this year has brought nothing but spiralling debt for both the business and us personally as a family.
Unfortunately we sit in the vortex of the huge Gov support packages that have been put in place. There are nearly 3 million people like us, like Jess, Me, Jorden and Rich. We're either Directors or self employed without the financial history to claim any benefit whatsoever.
This is what has put the business in to closure. If we'd have been able to Furlough everyone along with your support as well......we'd still be here and we'd be looking forward to a massive 2021!
But unfortunately we only have the support of you!
You and a huge loan!
That loan has been eroded. Although we were open for 3 months from August to Oct due to staffing and our usual overheads we've lost money through those 3 months as well.
So to put that into perspective we have been consistently losing money month on month since lockdown 1, Since March 2020! Nine months (at the time of writing) of back to back losses!
I've laid out some answer below which may explain a few things. please read them prior to reaching out about your personal situation.
Why are you closing the facility?
Simply put we have been losing money for the last nine months consistently month on month. There isn't one single month in the last nine where we have had positive cashflow.
Did you get Gov help?
Other than an initial grant we haven't received any other help.
The local Government grant was paid towards rent and keeping the business open so we could be here after the first lockdown.
Aren't you getting furlough or similar help?
There are about 3 million LTD company Directors and Self Employed people that have received NO Government help whatsoever.
We are all part of that group of people as everyone here is either Self Employed or a LTD company Director. Which means there is NO money available for any of us.
Can't you apply for more Gov help?
Unfortunately not. I've exhausted ALL avenues available to us. Including already getting in to more debt.
The most recent Gov help for November lockdown won't even cover the rent!
Can you apply for a loan?
We've already had and spent a loan. It's what kept the lights on during the first lockdown and paid for all the COVID secure measures we had to put in place.
I've applied for a top up loan but been turned down as we are at the limit of what we are allowed to borrow.
You own a company, haven't you made enough money to survive on to get you through?
That would be nice wouldn't it! We're not like the big company Directors who earn a huge amount and then still get bonuses when the company folds. Because it's my business I've put everything that I have in to building it. I've even gone and worked abroad to earn money to put in to the business so that it would continue.
Over the last four years because of the personal debt I've taken on to start the business I've lost a huge amount of money!
So I've worked for four years and paid money for a hugely stressful job rather than been paid for it. Weird right!
Why are you going out of Business?
The company doesn't have enough cash flow to get through the next couple of months and has taken on as much debt as it's allowed to.
In short there is no money to pay anyone to be able to do the work to build the business back up again.
How did you survive during the last lockdown?
We took on a Bounce Back loan underwritten by the Government. We took on as much as we were allowed to borrow so we're not allowed to take on any more.
I supported you through lockdown thinking you'd still be here. Can I have my money back?
I'd love to be in the position to return any money where you supported us during this year. However, if we were in that position then it would mean we probably wouldn't be going out of business.
We hugely appreciate those of you that did support us. Honestly we are really thankful for it and it's part of what kept us alive during the first lockdown.
Unfortunately due to the harsh situation for everyone, there were only so many people that were able to support us through that time.
This meant we have been losing money every month since March!
I pay annually or 6 monthly will I get a refund?
I'd love to be able to give you money back that was paid in good faith under the expectation that you'd receive that service.
We expected to be able to stay open and continue to sell our services but that has been taken away from us due to our forced closure.
The company doesn't have any money so unfortunately you're be in the same position as me in that the COVID situation has had an impact on your financial situation.
I've borrowed equipment can I get my deposit back?
Absolutely. The money for deposits were put into a separate account so as soon as you bring the equipment back your deposit will be returned.
Can I keep my equipment in place of the money I've paid you?
Unfortunately not as the company doesn't own the equipment.