Icknield news
We have continued working on a number of interesting and varied projects for clients over the last few months:
New retail client
Icknield has just started working with a retail group facing challenges after weaker than expected trading in 2014.
Assisting a turnaround client with refinancing
An Icknield client has completed a refinancing which increases liquidity and enables the business to continue with its turnaround plan. Ran Oren supported the directors and management with the refinancing and continues to work with this family owned manufacturing business overseeing the turnaround.
Supporting a business disposal
Ran Oren and Mark Russell have completed a short assignment to create a turnaround plan for an SME and stabilise the loss making business which enabled it to be sold to a competitor. Icknield is now working with the owners of the SME helping them with their other business interests.
Completion of specialist recruitment company project
Icknield has completed a 7 month project working with a £35m turnover specialist recruitment company. Mark Russell took charge of managing/forecasting cash throughout the project and assisted management in developing a plan to get through its cash issues and in reaching agreements with its major creditors. See link for more details.
Professional services sector
Earlier this year Icknield completed an 11 month project with a professional services business. At the start of the project the business was loss making and was forecasting needing its overdraft to more than double. By the end of the project the business had successfully returned to profit, was working through a turnaround plan and had been refinanced.
Icknield has experience with a number of other professional services clients including law firms, accountants and energy consultants operating under LLP, private and public limited company structures. We are actively looking to take on more clients in this sector; please contact Steve for further details.
Case studies
Icknield have recently posted a new case study about engineering services to the oil and gas industry.
Icknield Events
During November, Icknield ran a well attended event with a Corporate Finance Adviser entitled ‘Spotting the signs of companies heading for trouble’.
Icknield hosted a table at the 2014 Institute for Turnaround Awards Dinner in November. Steve and Ran are members of IFT.
Follow us on LinkedIn and Twitter
Icknield are now on both LinkedIn and Twitter; click on the link above to receive our updates.
“What our clients say…”
Nick Gordon, Business owner and Director, Recruitment Company
“When we hit some challenging cash flow problems the arrival of Mark Russell from the Icknield team was very good news. Mark moved rapidly to give us and our bankers full visibility on cash and taking immediate control of the situation. Within a short period with Mark’s help we were able to improve the company’s financial position sufficiently that we could continue our plans to grow the business. Additionally, Mark was instrumental in negotiating and achieving the successful sale of a non-core loss making associated company, including the removal of substantial cross company and personal director guarantees.”
About Icknield
Icknield’s team of business turnaround specialists assist companies through cash crises and restructuring. We understand the need to respond quickly to an urgent requirement for help and will make ourselves available at very short notice.
Our ability to quickly field an experienced turnaround executive or a team where necessary has been critical to the ultimate survival of many of our clients.
For further information please see www.icknield.com or contact one of the team.
| Steve Smith | Ran Oren | Office |
| steve@icknield.com | ran@icknield.com | admin@icknield.com |
| +44 (0) 845 862 3750 | +44 (0) 845 862 3755 | +44 (0) 845 862 3752 |
