January 2012 Newsletter

Some of the Projects we worked on in 2011

Successful sale of a Restaurant portfolio

Steve Smith became a non-executive director of a bank owned, loss making and heavily indebted restaurant group earlier this year, taking on the chairman role from late July. A twin strategy was implemented to explore the sale of the group and a cost reduction programme to create a viable on-going business. In November the sale of the majority of the restaurants was agreed securing the jobs of 500 employees.

Turnaround plan for an FSA registered business

David Lightowler is continuing to work through a turnaround plan for a niche property development funder witha continuous need to carefully manage cash flows. This project has involved sensitive negotiations with the FSA to support continued trading.

Other Icknield Projects

Shahin Gulamali has been helping a distressed leisure resort in continental Europe to develop a plan to eliminate losses and achieve a cash breakeven position in 2012. The resort is a long commute from London but a great location when you get there.

Ran has recently been appointed as a director of a construction business and continues to be on the board of a natural healthcare group.

Jaco has worked on several distressed cash and creditor management roles including a large hotel group which has featured in the press. We expect a lot more of these cash and creditor management roles in 2012.

Mike Simpson has been working with a business based in Scotland helping them improve working capital tied up in the business. The project was successfully completed before Christmas with teh Company’s UK overdue receivables having been reduced by 50%.

Outlook for 2012

With the current economic climate we expect an increase in the requirement for cash management roles in 2012. We also anticipate that SME’s will be an area of increased turnaround for us in the next 12 months.

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