Company Voluntary Arrangement for charity fundraising call centre
Quantuma appointed as Supervisors to £4m charity fundraising call centre.
- 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.
- 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.