Good evening all Some of you may remember some not. In basics i had a small embroidery company that unfortunately encountered some problems. , pretty much from day one. For those interested i will share with you some of my story. For those not please feel free to skip the story and just answer or guide me with the question in hand. I would also like to apologise if i have posted this in the incorrect area of the forum. My story began at the age of 23 when i left working for a family company that was started from scratch when i was 17. As in insight this company quickly grew and within only a few years employed between 80-100 people and was turning over nearly 14million, my attitude and demand to learn grew as quickly as the business, i learnt from their mistakes, i helped fixed the problems and played a major role in its functions. It was an interesting time i enjoyed my job, i was constantly in demand and my skills and experiences expanded so vastly. I enjoyed business, i enjoyed the long hours, the money, the chase and making decisions that made a difference. Ill be honest i was never sat on the board table but my role was key to its structure. Then a few more years later the recession hit just shortly after theyd made some risky aquisitions, which if youd have asked me wouldnt have done the business any good even if the recession didnt hit. Sometime sooner the company hit serious finacial difficulty and unfotunately went into adminsitration at this time i had been left to do what i could to save money where i could and shut down sites accross the northwest. I remember trying sell 20ft mixing vessels by telesales, not the easiest sale in a recession ill be honest, but i got rid of themin the end. By this point the company was on its lasts legs and running on fumes and they needed investement to continue trading, it was a roller coaster of a ride. And if im honest i struggled to keep myself busy and actually do the company any good, i tried to leave but my commitments where firmly in the ground. So i took over a small department of the company that serviced its customers for workwear and uniforms etc. Im a quick learner, it was simple stuff and by the end had took over all the roles of the original production manager. By this time the company was in talks with foreign buyers and the family atmospohere was tense, we had all been on a rise and fall, cars possesed and a nice lifestyle cancelled and to make things worse i disagreed with some of the current leach management who where still rinsing the company of its money and burning cash for fun, who had supposedly stuck around to keep the company going in the right direction. I disagreed with their choices, the people they left trust in. I had seen many of these mistakes before they happened i saw the leaches taking everything they could and watched a majority of them jump ship when the ship started sinking. I was upset, i watched something working relatively well and watched people steal from my family. I quickly learnt that my family didnt appreciate being told theyve made mistakes and that there too blind to see that where still making the same ones, it was hard for me and i think i alienated myself, needless to say i kept learning the uniform part of the business and kept building on its progress. A year or so passed (ill be honest ive lost track of time over the last 6-7 years, things happen so quickly). The time arrived where the foreign investors where making the buyout and i could see the changes being made to the companies original values and everything the company stood for. It wasnt enoyable but i enjoyed fixing the problems with my department. At this time relations with one family member where tense, and very fake. Most of my family (who didnt work at the company) agreed with what i had been saying and i blamed this particular family member for the hell we'd all been experiencing. He realised i wasnt prepared to fit in with the rest of the company and that my department was my retreat and something which id turned around single handidly. There was a lot of comotion, id created a stare and appraisals by other staff members where in the air. Id done a good job, as i always do but it just wouldnt click with him, he didnt like it. Then one day a rumour emerged that my department was closing due to the new investors having no interest in this line of business. I must have missed the group email that day and found the news from fellow colleagues, it came as a shock and i felt pushed out, i threatened to make a fuss and look to persue them, but it felt pointless, in the end they agreed i could leave the company with short notice, set up for myself and service their customers. Without a written agreement, they where family after all.... i left, borrowed through my teeth witha business overdraft for 20k pg'd and sat up my own business, knowing i could service these customers as a starting grid to go onto different things. Around this time my gf was around 6months pregnant, i had no fear, as there where a nice flow of orders coming through their books, which almost covered all my overheads. It seemed a good position to be in. Things where positive, the market was used to being in recession and i knew where to pick my orders up from. The day came i opened up the doors and spent the first few days getting all the last pieces together. when i received a text message from one of the guys where i used to work. it read something along the lines "everyones had emails about the workwear department being back open and there was loads of of stupid offers attached". I was distraught, for some reason i started fuelling the situation, i was mad infact crazily sick!. Me, my sales guy hit the phones like mad tired everything we could, but we'd been beaten to it with the good spending customers and it seemed diversion was the only option. We tried local customers and customers out of the usual field from my previous job. It was a tough few months and then the baby arrived, with a few problems at birht along the way, i wasnt speaking to most of my family it was a difficult time. My sales guy was running riot and i had a machinist practically just destroying machinery and products while i was gone. Its a simple operation ill be honest, but i guess thats what happens when you leave your trust in people. Xmas came, i struggled to make sales i laid of my sales guy after hed took the piss for soo long and tried to get some newbies in for the last few weeks for some trianing for the new year, they covered there heads with sales, but it was a short month and working 20hr days to get the jobs complete for delivery xmas was tough. January came, a tough month for me, plenty of quotes in the air, but they where struggling to close the deals. Then my baby fell very ill. I lost 3 weeks, they where horrible times. I spent my nights working by myself running the machines and leaving post it notes everywhere (id sacked my machinst by this time,i learnt you can take a horse to water but you cant make it drink) then by day bedside at the hospital. Luckily he was well enough to come home, i was tired and very emotional. The sales where coming in, but i was still loosing money. I then started to get introduced to larger companies, but found it very dificult to fulfill the orders as i didnt have enough finance in the business to support the customers. I turned away a lot of work, it was horrible. Id made some good contacts, but i just couldnt do enough. If things didnt improve i could see the end being near in the next few months. Some of the larger sales invoices werent coming back in quick enough and my credit lines with suppliers wherent big enough to support. I ended up giving the orders to another firm (the guy whos job i took over a few years before) I gave it my all, put all my eggs in one basket and went for it. Grabbed as many sales as i could and kept getting more and more. I made the decision i didnt want to owe any of my creditors any money and that all my staff would be paid there correct wages, i closed the door knowing id done my best and hadnt shafted anyone along the way. Luckily id spoke with everyone previously and theyd made prior arrangements to find new jobs, there was only 3 of them but still. I then spent the next few weeks passing on orders we had quoted to the other guy again as a goodwill for what later turned out to be a job offer. Which unfortunately didnt work out as one of his business partners saw my desperate situation and thought it would be good to try squeeze me for everythng he could. I paid up my suppliers. And found a new tennant for my unit, id left a few grand in the account so that i didnt default on the o/d until i could think of a plan. Assetts wise i had nothing of real value. I explained to the new tennants what happened and they where intrigued with my story and thought with my help i could help them do the same thing as i had done and cashflow was not a major issue for them.