Thu, 07 Mar 2019 | ADMINISTRATION
Leaving a 16-year legacy of delivering door-to-door fundraising for a number of charities behind, HOME Fundraising announced that it was entering voluntary administration.
The agency was forced to call in accountancy firm HW Fisher & Company to handle the administration process, with the administrators actively looking for buyers to take on all parts of the business and its assets.
Joint managing director of HOME, Dominic Will, believed that the reason the business went into administration as due to the rising costs of downscaling the business in order to maintain flexibility in a rapidly evolving marketplace.
He said: “It’s been an extremely difficult time for fundraising agencies in the recent years, with the need to adapt to a dramatically changing marketplace. There is also considerable uncertainty within the UK economy to which very few businesses will be immune, particularly those that carry significant staff and infrastructure costs.
“HOME’s business model and philosophy revolved around the direct recruitment and training of all fundraising staff, creating a workforce of experienced, talented and committed fundraisers. Ultimately, despite all of our efforts, we have been able to reconcile the cost of adapting and downscaling within the capacity of the ongoing business. Taking the company into administration at this juncture is the most responsible course of action.”
The company’s most recent accounts show a turnover of £22 million in the year ending 31 March 2017, whilst only securing a profit of £556,000. In the previous year, the business endured a loss of £181,000.
Despite these figures, Neil Hope – also HOME Fundraising’s joint managing director – said the company had raised £1 billion in its 16 years of operation.
The administration team are seeking buyers and are inviting all offers of interest immediately.
For more news stories about administrations click here. For all our administrations listings, click here.
Offers professional and humane pest control solutions, helping clients throughout the South East maintain pest-free environments. Sources ethical, effective and competitively priced solutions, which meet its clients’ requirements. Offers invited.
FREEHOLD
Specialist catering company delivering a one-stop breakfast and lunch service including a broad variety of sandwiches baguettes salads pastas hot food pastries snacks and drinks via its own fleet of purpose-built vans. The company operates within a 3...
Serving the marine sector the company specialises in the design manufacture supply and installation - in addition to the testing and commissioning - of fixed and portable fire-fighting and fire/gas detection systems. Operating with a highly proficien...
|
03
|
|
Jul
|
Next completes sale and leaseback of head office and warehouses | COMMERCIAL PROPERTY
High street fashion retailer Next Plc has confirmed the succ...
|
02
|
|
Jul
|
Benchmark Holdings secures sale of veterinary business | BUSINESS SALE
Sheffield-headquartered aquaculture health, nutrition and ge...
|
01
|
|
Jul
|
TM Lewin to close all UK stores in pre-pack administration | ADMINISTRATION
Shirtmaker TM Lewin will close all 66 of its UK stores as pa...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources