Cheswick Arranges Business Sale and Fast New Factoring Facility

Finding that your factoring company isn’t supportive is a worrying time for directors. This client approached us to find a replacement factoring facility, whilst tacitly acknowledging that they were worried about the possible failure of the company, they had also been looking at turnaround options.

Having seen sales drop due to a technology change, even though the core business model was sound, the board had to decided to restructure the business.

We led a sale of the core business to a new company, provided two sources of finance to choose from and then arranged for the old company’s debtor book to be collected out in full. The old factoring facility was repaid and only modest debts were owed to creditors. A voluntary liquidation is planned for the old company in due course.

If you have a client that needs to restructure, has worries about its factoring facilities and directors that need guidance please call Cheswick Capital for innovative and rapid solutions.