A JOURNEY THROUGH PROVENANCE

WHY BUSINESSCARE? :: We let our results do the talking

A Good Hiding
The collapse of communism in Eastern Europe led to a dramatic downturn in the import of hides and skins from dealers in Western Europe , with the result that in the 1990's some very big names in the business simply disappeared. What was at the time, the country's largest remaining International dealer in hides and skins sought our assistance.

Through a company voluntary arrangement via administration, working with the directors, we were able to totally re-organise the company's modus operandi helping along the way to change forever the manner in which business traditionally had been conducted in the industry.

The result was that although turnover was reduced from £60 million to £20 million a year, it was achieved with fewer staff, reduced overheads and without the need to maintain permanent stocks of around £7 million. The outcome was the re-establishment of a profitable business.

Fourteen banks received in total over £12 million from their £16 million advances, together with almost 30 pence in the pound dividend on the shortfall. Creditors received a similar dividend, all debts were thereby compromised and the company was thereafter able to go forward without the burden of debt.