Restructuring and Purchase from Administration

CR Corporate Solutions was introduced to the operational management team of a "soon to become" insolvent company

The company had suffered a dramatically changing market place in recent years and had diversified into non-core areas.  This had a detrimental impact on both the company's balance sheet and the cash position.

The company entered Administration and as a result timescales were short with limited time in which "to do a deal" before the existing contracts and work-in-progress became impaired, and the opportunity lost.  There were also third parties expressing interest in the opportunity.

We worked closely with the operational management team to prepare a document outlining the changes required, a revised way of operating and background on the market, opportunity and the changes that would be implemented by Newco, in addition to full financial projections and financing requirements.

We were fortunate to secure the support of the local business network and a regeneration agency in addition to some high net worth individuals that wanted to retain the business and jobs in the local community.  Our contacts within the invoice finance and asset finance markets also supported Newco and as a result we were able to secure the mandate from the Administrator and secure the purchase.

Craig Rattray has invested alongside management and has been retained on a part-time basis to assist the company in its growth and development.

This Case Study shows the ability of CR Corporate Solutions to provide support within short timescales, to be creative and flexible, and to use our wide network of contacts.

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