BUSINESS TYPE:	DISTRIBUTION AND LOGISTICS COMPANY
LOCATION:	NORTHAMPTONSHIRE
REFINANCING COMPLETED:	£750,000

The director of this company approached us as the company’s main bankers, Bank of Scotland Invoice Discounting (HBOS), were about to foreclose. The company had also built up a significant level of liabilities and was having difficulty meeting day to day commitments.

We introduced the company to new trade finance partner who fully repaid HBOS and the facility is now working satisfactorily. To deal with the creditors, we assisted the director with a proposal for a Company Voluntary Arrangement which was approved by the creditors.

This has enabled the company to consolidate its position so that we can introduce additional equity on terms acceptable to the director and shareholder. The company’s prospects are now encouraging and the director is positive about the future.

The company is a significant distribution and logistics company working with major retailers and their suppliers and as a result our efforts 68 jobs were secured.

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