Expanding Fashion Manufacturer

When we came to the company, the business had been up and running for just over a year. The team involved had had some financial misfortune in the past so the business was under-capitalised and struggling. On the bright side: the team had chosen a clear niche (young fashion) and had an excellent design team who came up with fresh ideas that were attractive to retailers. The business was held-back by under-capitalisation. The team was over-stretched, the existing finance providers were over-charging, and the team were at the point where good business was being turned down due to lack of working capital.

Objectives:

The managing director wanted to raise additional funds to support growth – in the most cost-effective manner possible.

What Platinum Did:

We worked with the managing director to:

1.      Prepare financial accounts for the preceding year – proving the company’s profitability to date.

2.      Develop a business plan that:

        a.       Detailed immediate prospects – in terms of order pipe-line and potential

        b.      Detailed proposed sales and marketing activity to further increase pipe-line

        c.       Detailed new operational resources that would be required to deliver on increased orders

        d.      Illustrated potential financial options through projected cash-flow, P&L and balance sheet

3.      Restructure existing facilities to reduce cost to the business (included introducing new financial partners)

4.      Introduce lender to provide additional working capital facility.

The Results:

The company reduced the cost of their exiting facilities by 35%. They were also able to obtain a working capital facility which had been denied before. In the three months since completing the project, turnover increased by 30% and the company is set to grow further.

Clients Comments:

“Thank you from the bottom of my heart – this has been a great help – God bless you.”

News

***We are delighted to announce that Platinum has won the 2nd contract for Access to Finance- 2007/08***

***Can we make your accounts and business finance one less thing to worry about?***

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