“All jobs saved at telecommunications company"Find out more
In the lead up to Christmas 2022, we assisted the board of a groundwork and telecommunication service company with a six-week cashflow review, plus related work.
As a result of working down the secured lender position with personal guarantees, we were able to help oversee the administration process. We protected the board’s position in drawdown and payment of critical payments only and whilst under the protection of the interim moratorium.
Subsequently, FTS rescued the company following a short period of marketing. By working alongside a suitable third-party evaluator, we achieved a connected sale of the business and assets.
The rescue enabled the ongoing employment of all staff and contractors, which saved close to 200 roles.