The company was a specialist consultancy which had invested significant resources into acquiring a pivotal contract with a high profile public body. An attempted fraud on the consultancy resulted in the loss of the contract with a significant potential impact on the viability of the business.
Our Associate Director was asked to assist and:
conducted a quick and dirty financial review so as to fully ascertain the extent of the financial damage.
persuaded the directors to take advice from an insolvency practitioner, accompanied them to the meeting and obtained clear guidance in respect of their legal responsibilities.
produced realistic budgets and cash flow forecasts and accompanied the directors to a series of meetings with their bankers, persuading the banks to provide continued support.
implemented strict cash flow management procedures, reports and KPI’s.
focused on cost reduction resulting in a slimmed down operation trading from less prestigious premises.
guided the directors in their search for additional investors, attended pre investment meetings and dealt with the due diligence process.
Prevented a crisis from becoming a disaster.
Secured the immediate financial position and negotiated continued banking support.
Established processes and procedures that allowed the company to deal with a rigorous due diligence process, culminating with the introduction of fresh funds and additional participators.