Case study
Securing futures by facilitating a third-party purchase
Client
A North West provider of professional staff on permanent and temporary basis with a £1m turnover.
Situation
This was a loss-making business, compounded by the illness of its director who had no appetite to continue trading or attempt to turn it around.
How we supported
We marketed the opportunity to purchase the business to our extensive database of contacts.
This led to a third-party confirming interest in purchase via a pre-packaged administration.
Outcomes
- The buyer offered the director a consultancy role.
- All staff employment was preserved including placement staff which provided continuity for clients.
- The sale maintained continuity to customers, therefore maximising value in the company assets primarily the debtor ledger.
- The incumbent funder was repaid in full as part of the sale.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.