Company Voluntary Arrangement for charity fundraising call centre

Quantuma appointed as Supervisors to £4m charity fundraising call centre.

Overview:

  • Bristol based charity fundraising company
  • Fundraising landscape shifted and regulation changed following attack by mainstream media on the sector
  • Charities moved away from telephone fundraising impacting on revenues
  • Quantuma introduced by the company’s lawyers to advise on options.

Outcomes:

  • Quantuma engaged to comment on company’s financial forecasts and produce a CVA proposal to put to creditors
  • Three year CVA expected to deliver 56% return for unsecured creditors
  • Alternative option would have resulted in no dividend to creditors
  • Quantuma spoke to the 10 largest creditors before drafting the proposals to gauge their appetite for supporting a CVA
  • Quantuma arranged alternative funder to provide new working capital facilities
  • CVA approved by 89% of creditors voting on the proposal
  • Company continues to trade under the control of the directors and is meeting the terms of the CVA.