Fred – manufacturer of specialist equipment
When I met Des we were in a tough spot with nearly £400k worth of debt to both the crown and our creditors.
First of all, Des negotiated an informal agreement with our creditors that allowed us to pay them a set amount each month. This gave us invaluable breathing space and the time Des needed to review our business to identify our main problem areas.
The main problem, it turned out, was that the business was trying to do too much. We were designing, building, purchasing and maintaining equipment; as well as consulting and managing projects.This meant that key suppliers of the same equipment saw us as competition, as opposed to being our route to the market.
Additionally, the manufacturing and purchasing arms of the business had become a huge drain on cash flow.
Des helped us restructure the business to focus on design and assembly, outsourcing the manufacturing. We then reversed the process with the equipment suppliers, becoming a supplier to them rather than a purchaser, removing the element of competition.
Des also helped us to enter into a CVA, which reduced our monthly payment burden from £25K to £4K.
Now, thanks to Des and his team, we turn over nearly £1.5 million, and are more profitable than ever.