Interim finance at a community enterprise
Neal Trup’s 40-day assignment was spread over a 12-month period at an established and high profile community enterprise group – a charity and three trading companies.
Once the cash flow had been stabilised the focus was on moving to a sustainable business model and structure, which was achieved. This also meant that creditors were eventually paid in full while the mortgage provider was able to significantly reduce its exposure as a result of the improved business performance and consolidation of the buildings. Something that would have been less likely if the organisation had gone into a formal insolvency process.
While there were a number of job losses the group continued to deliver key services and has returned to profitability, and has also been successful in winning new contracts and funding.