SFP Introduced to CleanEvent Group and Negotiate Sale

Despite being an established Group with a previous year’s turnover of c.£10 million, the CleanEvent Group suffered from reduced margins and increased competition, causing cash flow troubles and unmanageable liabilities. One of the entities within the group had also been presented with a winding up petition. As a result, SFP’s joint administrators Simon Plant and Daniel Plant were introduced to the group by its financiers and were subsequently appointed Joint Administrators in July 2016.

Once appointed the Joint Administrators continued to trade the businesses whilst establishing the best strategy. Following a professional valuation, SFP successfully negotiated the sale, allowing for business continuity and the fulfilment of ongoing contracts.

SFP successfully oversaw the sale of the business and its assets, saving jobs of circa 700 employees.
“It was necessary for four redundancies to take place. All remaining jobs however. have been secured and the Group is now looking to push on and win more prestigious cleaning contracts,” says Simon Plant. “This is yet another example of how a struggling business sought expert help to turn its business around – and as a result can continue to trade today.”