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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.