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The Company has been at the forefront of the development of renewable energy systems and now has a reputation for quality in design and installation with the result that it has a substantial order book. The Company has installed systems for both private, commercial and community clients. It is considered to be amongst the leaders in this sector.
During 2009/10, the company increased costs, in particular payroll, to cope with the increasing business volumes, but the gross profit was insufficient and the Company made a loss. The owner/director is technically knowledgeable, but he recognises that he lacks financial experience. The company’s negative cash flow as a result has culminated in creditor pressures and a lack of finance to fund orders.
Last year’s turnover was circa £1 million however the current order book is in excess of £1.2 million and it’s this that needs funding.
The owner director is looking for an experienced investor to help him take advantage of opportunity he has created. He is flexible as to terms and would consider giving up control in the right circumstances.
Ref: JO11 180
A statutory demand is a written demand for payment of a debt, in a prescribed form, served on either: An individual, in accordance with section 268(1)(a) of the Insolvency Act 1986 (IA 1986). A company, in accordance with section 123(1)(a) or 222(1)(a) of the IA 1986. This practice note provides more detail (Statutory demands and […]View More
David LLoyd, Robinhood Consulting View More
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