Tue, 03 Nov 2015 | ADMINISTRATION
Fundraising agencies Fundraising Initiatives Limited and Person to Person Direct have entered administration.
Both businesses provide face-to-face fundraising services and form part of the Fundraising Initiatives Group. Earlier this year the parent company also put a third business - telephone agency R Fundraising - into administration.
It is reported that Fundraising Initiatives Limited (FIL) and Person to Person Direct being placed in administration could result in the loss of more than 300 jobs. Between them, the two businesses make up 10 per cent of the entire face-to-face fundraising market.
FIL has more than 300 employees on its books, its website states. Furthermore, the most up-to-date accounts available show that in the year to December 2013 the business had a turnover of £11.8 million.
Meanwhile, for the same financial period Person to Person had a turnover of just £866,000. It is unknown how many people this business employs.
More trouble could be in the offing for the parent company Fundraising Initiatives Group; according to Civil Society Media, the holding company is not currently in administration, although its accounts have not been filed with Companies House despite being due by the end of September.
Spokesmen for Workplace Giving and Rapidata, two other companies in the Fundraising Initiatives Group, said the businesses now in administration continued to operate as normal.
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