A key director departed the company, leaving it under funded by over £0.5 million. There was no contingency plan in place, which left the business in a very uncertain position.The company had no future business strategy in place. Subsequently, the Bank restructured the debt, leaving the company exposed to even more funder pressure with limited long term debt.
Options were evaluated through gaining a better understanding of the current position of the business. The creditor offer was ultimately accepted, allowing the business to move forward positively.
KPMG instilled calm and confidence throughout the business by providing valuable support through some difficult times. They helped us to re-group and gain a better understanding of the business’s existing loans and leases.
KPMG Business Rescue Services also validated the processes and procedures of the business. They helped in negotiations with creditors, bringing credibility and calm to the situation.
KPMG’s patience and understanding were very much appreciated and valued. I doubt we would be trading successfully today without their help.
“KPMG validated the processes of the business and helped in negotiations with creditors. Their patience and understanding were very much appreciated; I doubt we would be trading successfully today without their help.”
Health & Fitness company
“We helped relieve the strain on the director, and by introducing a new lender helped the business gain new funding allowing creditor payments to be met. This built a stable platform on which the business could then execute its trading plan and ultimately find a way forward.”