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Poole Director Turns Business Around With Portland's Help
Published on: 22 May 2007
If you know your company is heading for a difficult period, don't ignore it. Instead arm yourself with guidance from a business rescue firm such as Portland Business & Financial Solutions and fight the battle head on. That is the advice of the South's leading independent business recovery firm, whose Poole office helped local firm Mayfield do just that and, in turn, secure its future.
Portland was called on to provide expert guidance and support that helped the company Director Debbie Marshall-Jarmey spear-head an effective strategy that secured the operation's future. Mayfield supplies accessories for static caravans and park homes such as decking and steps to major UK park companies and sites. It ran into difficulties after establishing an operation in Spain to sell accessories and static caravans. The financial implications then negatively impacted on the UK firm.
Poole-based Portland Director Mike Fortune said: "Debbie was smart and responsible enough to spot the problem early on and ask us to assist in identifying the best course of action. As a result of this proactive and responsible step, with our help the business was saved, no jobs were lost and the firm continues to operate today. By approaching us we were able to ring-fence the company and introduce new business partners saving the core business and 10 jobs in the process. This enabled the business to get back to its original form and continue supplying the major customers while also enabling substantial outstanding debtors to be collected by the provision of ongoing warranties, thus benefiting creditors."
Fortune explained how Portland is always available to guide owners and directors through difficult times. "This is a clear example of a responsible proactive approach by a director who is willing to get proper advice and as a result the business has been saved. Unfortunately, a lot of directors in similar situations bury their head in the sand and hope the problem will go away, which invariable it doesn't - it gets worse! To Debbie's credit, Mayfield had the foresight to seek our help at an early stage and, as a result, a successful outcome was achieved."
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