Niche player hi-tech company with blue chip contracts in the Far East. Turnover £3.5 million. The company diversified in an attempt to overcome the cash constraints brought about by the highly seasonal nature of the core business. This in itself however distracted and created greater strain on the already illiquid position.
Recognising the potential of the core business we were successful in introducing investment funds through our turnaround business angel network “t-ban”. We also strengthened the management team by introducing a CEO from "t-im" our turnaround interim manager network.
We facilitated a sale of the subsidiary and contained creditor pressure through a company voluntary arrangement enabling the board to refocus on the core business.