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Plumbing Contracting Business

Turnover - £12m
Sector - Engineering

The Project:

To work with the owner and new MD to stabilise the business after cash issues arose post financial restructuring


  • Overdraft reduced by £200k within agreed levels

  • A term loan of £250k was repaid

  • The ID facility moved from 'hardcore debt'

  • Internal actions drove a 3.5% increase in GP

  • FD

  • Pre-covid, the business had a 12 month plan to repay overdraft and return to mainstream banking

  • Through covid, the business reassessed the position and obtained a £500k CIBILS loan and used the governments furlough scheme

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