Investment secures future of audiovisual company
ReSolve was introduced to Orbital Sound Ltd, an audio-visual equipment hire and sales company based in London, by their solicitor.
The Company had suffered recently due to a poor investment in a US subsidiary which had since been closed. As a consequence it was in need of additional working capital which its bank was not prepared to provide. The Company had constraints for further credit with many of its Hire Purchase creditors – critical to its day to day operations – and had also recently had to negotiate a time to pay arrangement with HMRC. With increasing pressure from the HP creditors there was a real risk of insolvency.