Services sector

We assisted a family owned company based in the North West which provides ready meals to the low cost airline industry.

The business has encountered trading problems primarily as a result of rapid growth, two costly relocations and a significant bad debt. The seasonality of the business also exasperated the financial position during the winter and spring months, as trading is heavily geared towards the summer.

We were able to negotiate an arrangement with the Crown to repay more than £200,000 in VAT and PAYE liabilities over a period of twelve months. Also by working with their funders we were able to secure a temporary overdraft facility and also additional support from the factoring company which helped to plug the seasonal shortfall. This further allowed management to focus on acquiring new business.

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