An hotelier trading in Bournemouth with three long-standing hotels. The hotels benefited from an excellent location but needed serious capital expenditure to refurbish them.
Our team undertook a series of Independent Business Reviews for the bank, while working with the management team to keep the businesses trading and running through an accelerated mergers and acquisitions process to confirm that a sale through a pre-pack achieved maximum consideration.
By utilising their technical skills and extensive sector expertise, the team managed to drive the sales price up considerably by running an accelerated mergers and acquisitions process to test the market and then negotiating with three competing purchasers.
By using this multi-disciplinary approach, the restructuring and corporate finance teams worked closely together to save the hotels and ensure they continued to trade.
Our team in Scotland completed a deal for the original founder of a chain of restaurants which were sold five years ago, buying back the group and saving 63 jobs. A well known restaurateur and his wife started the business over 21 years ago but sold the group and moved to a new venture.
The restaurants ran into problems under the new owners and we were duly appointed as joint administrators. With a strong brand and loyal following in the region, it was simply too attractive a proposition for the previous owner to ignore.
Following considerable business expenditure just before the recession, a group of restaurants were then hit by the economic downturn. The company experienced significant trading losses and faced substantial arrears, including HMRC.
Our team of corporate recovery experts proposed a Company Voluntary Arrangement (CVA) which was subsequently approved by creditors. Concessions made for the duration of one year, particularly by landlords, ensured all seven restaurants continued trading and saved 50 jobs.
A golf club in the North of England ran into financial difficulties due to the impact of the economic downturn. We initially supervised a Company Voluntary Arrangement (CVA), based upon selling the course to repay creditors, allowing the business to continue trading while a new owner was sought.
The business and assets were then sold. Under the new ownership, the course remained open and existing memberships honoured.
The 133-year old Keighley Cougars ‘Pride of Keighley’ RLFC club faced a winding up petition from HMRC. Attempts by the club and the Rugby League to secure funding and a repayment agreement with the Crown both [email protected] the remaining options were winding up or administration.
Appointed Joint Administrators we immediately secured a sale of the business and assets to a consortium of local businessmen who are fans of the club. As well as saving the club, the deal secured the future of the playing squad and staff at the ground.
TRD was an operating subsidiary of AIM listed Turftrax plc, a business specialising in the development of technologically advanced products for the horse racing industry.
A £10 million research and development initiative failed to give it entry into the market, meaning the business was no longer viable, despite having significant interest in its products.
Our team in Salisbury were able to secure the sale of a division of the business and are currently in talks with a number of potential purchasers for the remaining divisions.