The company, an existing client, approached us to assist with a new challenge and we are pleased to report that we found a solution to stabilise their cash position and give them cash freedom to invest in stock and Christmas trade.
The Background Story
The company, who design and market high end costume jewellery for a number of major high street and online retailers, originally approached us a few years ago as they were experiencing a major creditor problem. We quickly responded and after much angst by the directors, we agreed to structure a CVA to relieve and resolve the creditor pressures.
This year, when the business faced a new challenge, they contacted us for advice. One of their key customers was falling into administration and, although our client’s business was sound and well managed, it could have faced an extreme situation if additional funding wasn’t quickly found.
Investment and Outcome
We approached a number of commercial asset-based lenders known to us. With the aim of replacing the existing lender, we arranged a number of meetings. Our client was quickly presented with two offers and within a further fortnight, one of these completed, taking over the full funding line having repaid the previous lender. All parties worked extremely hard for this outcome and we are grateful to everyone’s efforts in this case.
We are always happy to help existing clients and are glad that we were able to provide a positive solution, reducing the stress this company was experiencing.
a note from the client
Our experience of Beer & Young shows that they have invested the time to fully understand our business needs and financial circumstances. They have worked with us objectively to find the most appropriate outcome. We would recommend them to anyone who faces business and financial challenges. They will find the positive reassurance of experienced problem solving, leading to a carefully planned route forward.
Founder
Jewellery Business
