THE SUCCESFUL sale of a distressed recruitment firm following the restructuring, marketing and advertising of the business led to a deal that saved all 25 jobs.
Insolvency practitioners SFP sold the business and assets of recruitment consultancy Keene and Lord Limited, after it got into difficulties over a number of bad debts and cash flow issues that led to the appointment of the IP.
Established in 2011, Keene and Lord grew quickly and maintained offices in Theale, Hemel Hempstead, Bristol, Heathrow and Reading, with a 2015 turnover of £12 million. It focused on a number of different markets including automotive, hospitality, and sales and marketing.
SFP’s Simon Plant and Daniel Plant – both licensed members of the Insolvency Practitioners’ Association (IPA) – were appointed administrators of Keene and Lord on 26th February 2016.
“This is a good result for the firm’s employees and contract staff, ” said Plant. “The business has continued to trade and is now well positioned to develop its offering and expand its client base. Businesses usually fail because of a shortage of cash, rather than any other underlying problems, which is why seeking expert help early to facilitate a turnaround is always encouraged.”
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