Distributor of Domestic Electrical Goods

A £25m turnover distributor of domestic electrical goods received notice that its major customer comprising 60% of turnover was terminating its trading relationship. With incumbent management produced a Business Plan reflecting a change of strategy to become a logistics company.

Despite the tight timeframe managed to raise finance to purpose build a new logistics facility and liquidated approaching £2m of cash tied up in working capital to enable the company to survive whilst the change in strategy was implemented. Post departure the company grew to £50m turnover.