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Case Study: Restructuring & Insolvency, Strategic Advisory, Third Sector

A dance and theatre school that required a comprehensive turnaround of its finances and operations to continue serving the community. We worked closely with the school to implement a new operational financial model, monitor cashflow forecasts, obtain additional funding and stabilise the senior team.

CASE STUDY Third Sector – A successful turnaround for dance school

 

The Client

We were introduced to this important dance and theatre school which operates in schools, health and social care settings, community venues and its own premises. It provides dance opportunities to a variety of participants, including children and young people, the disabled, hospital patients, stroke survivors and the socially isolated.

The Challenges

At the time we were introduced to the charity, the board had concluded that, due to inappropriate decision-making, which led to the resignation of the CEO,  it had no choice but to close which would have resulted in the loss of its important services to the community. There was virtually no cash left and no ability to meet the payroll costs of over 20 staff that month. We quickly identified possible short-term funding opportunities with the Arts Council and other key stakeholders, which avoided closure.

The Conclusion

We worked with the organisation for a period of months to build a new operational financial model, monitor cashflow forecasts, terminate speculative loss-making operations, obtain additional funding and stabilise the senior team following the departure of the former CEO. This was a successful turnaround that helped secure the services to the community and save over 20 jobs.

 

Are you facing challenges?

If you would like to discuss any aspect of this case study or any challenges you are currently facing, we will be pleased to assist with expert guidance. We have extensive experience of dealing with business challenges. Our ethos is to help and support, not to judge. Please contact one of our Partners at your nearest office.

 

Key facts

  • Dance and Theatre School
  • Cashflow challenges and management changes required a turnaround strategy
  • Worked closely with the school to implement a new operational financial model, monitor cashflow forecasts, obtain additional funding and stabilise the senior team.

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