BUSINESS TYPE:	SECONDARY MORTGAGE BROKER AND DEBT SOLUTION
LOCATION:	NATIONAL
TOTAL NEW INVESTMENT:	£360,000

Our client faced a major working capital shortage when they engaged us at the end of November 2006. The directors were running two separate businesses that were both struggling and their bankers were not happy with either situation.

It became apparent that the businesses had very significant financial and regulatory difficulties. We fully discussed the options available to the directors and they instructed us to help deliver a formal restructuring solution in order to protect the value of the businesses.

Beer & Young worked closely with all parties and introduced a number of potential investors as part of a recovery plan. We are delighted to report that in February 2007 investors purchased both businesses, saving a number of jobs and retaining significant goodwill. The bank borrowing was repaid and critically for the directors they were released from their personal guarantees.

From inception to completion, these activities took place in a hectic eight weeks which included the Christmas break.

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