Objective

Protect bank debt and recover a business in which the bank had lost all confidence

Key milestones:

• Successfully delivered a business reconstruction project on Europes larges Motorhome retailer; t/o > £120m.
• Undertook full company assessment and quickly identified key issues.
• Created practical business and financial strategy, broken down into operational and financial action plans.
• Put the business through a process in April 2008.
• Halved the annualised overhead which became necessary through historic miss-management and latterly the World recession.
• Reduced salary costs by >52% by mid 2009.
• Identified and developed mid term property strategy for better than book value outcomes..
• Re-engineered the National footprint for affordability in the context of the reduced market for new motorhomes - exits without loss.
• Full year trading to December 2009 was >£2m over budget and cash at bank c£400k over forecast.