Case Study – Paper Manufacturer

Background

Our case study features a UK paper manufacturer with a c£150m turnover.  Their debt portfolio is 95% foreign debt, spread primarily throughout Europe, Asia and South and North America.

There was also a foreign factor involved.

The company was placed into Insolvency in January 2019 and we were instructed by the Administrator (FRP) to manage the collect out of pre and post Administration debt, whilst the company traded in Administration to secure a buyer for the business.

Actions Taken

We maintained a weekly on site presence in the  Head Office and Managed their in house Credit Control team.

This involved building positive relationships with the team, in an often difficult and negative situation – Motivating the team to maintain morale with the objective of making sure that key personnel remained in the business.

We took direct control over larger and disputed debts to maximise recovery and to allow the team to focus on volume recovery.

We provided the Administrator with weekly MI reports which clearly illustrated the collect out situation and provided commentary on all key aspects of the work we were undertaking.

We provided opinion based on our recent understanding of the business during the period that negotiations were taking place to sell the business and were able to support the Administrator.