Our client is a leading supplier of dried foods for retail, wholesale and the food service industry. We were engaged to advise on a refinancing process for new shareholders with added time-pressure. Our role was to unlock £1.5m of additional funding and renegotiate covenants with the existing lenders or to seek a new working capital facility.
The timing was challenging due to the impact of Covid-19 and Brexit on the underlying business and general lender uncertainty in the market.
Utilising our extensive lender network, we successfully refinanced all working capital facilities away from the incumbent lender.
Sector: Food
Deal Type: ABL refinancing
Deal value: c.£20m
Our involvement:
- Corporate restructure
- Debt advisory
See our full press release here: Community Foods Limited – refinancing press release – 2.1.24
