Wholesaler of electric hair grooming products to the hairdressing trade
Situation faced:
Loss making operations after supplier failiure in 2013 with very tight cash management required . overtrading for last couple of years. Company had lost key funder (Barclays) support and needed refunding. Company had also focused on front office only and finance/operations needed restructuring
Outcome achieved:
Developed cash forecast for business as well as bringing finance department back up to date and sufficiently resourced. Addressed management communication and short term planning. Developped presentation for potential funders and met with 7 banks. funding reviewed and new lender brought in to support business into next stage of development and key autumn trading period