Business gets the help it needs to prosper
A business had been put into its bankers’ special lending unit. The ten-year old company had hit a bad patch with sales dropping from £2m to £700k over two years and the company was now making a loss.
The company was told it had to be liquidated; but it was not insolvent and the reason that turnover had fallen was down to developing a new product that was about to come on stream.
P&A found new financing from another bank and an invoice discounter. Ten employee jobs were saved and the viable business is now flourishing.