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New Balance White Sneakers Mens

New Balance White Sneakers Mens

Norwich based Quantum Industries was stung by a 100,000 bad debt in January when its biggest client, HMV, fell into administration.

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RBS were great, but they put every obstacle possible in our path when things went wrong, which was shame because when it was going well I couldn't fault them."

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Bosses were left with the decision to make 18 staff redundant and were advised by the bank to speak to insolvency practitioners.

"When things were going great, New Balance 610 Steel Toe

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"A number of points were discussed and we looked at various ways to inject cash into the business to help in the short term.

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But the company, headed by managing director Toni Manning, was given a huge boost of confidence when it sought independent advice that led to a fresh finance deal with Skipton Business Finance brokered by EDP Future 50 firm Anglia Finance which allowed it to re employ eight staff and continue to chase deals with long term clients Next and Laura Ashley.

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´╗┐Historic Norwich business on route to success after bank and HMV woes

"We also discussed the option of seeking advice from an insolvency practitioner."

The news is in marked contrast to when the business was pushed to the brink of collapse earlier this year when bankers at the Royal Bank of Scotland (RBS) enforced a stringent debt reduction plan, which stripped it of the funds it needed to trade.

The resurgence of the company comes amid a continued push New Balance White Sneakers Mens from the government to create alternative sources of finance for businesses, including its flagship Business Bank, which received a 300m cash injection last week.

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"Since we started with RBS nine years ago we have paid more than 500,000 in interest charges and had a 10,000 overdraft that we never touched.

She said: "I didn't know where to go for help. I would still be struggling with RBS if I had not New Balance Price

financial details along with full details of creditors and debtors so that we could assess what support we could feasibly provide.

"But the first time we were in trouble they closed the doors on us.

"And I keep thinking that there must be other business out there that are closing down because they simply do not know the options open to them.

But Ms Manning said the business would still be struggling with the bank if she had not received support from Norwich North MP Chloe Smith and Anglia Finance, which helped her secure the new finance deal.

She said: "Recently, Ms Manning's relationship manager at RBS Invoice Finance, met with her to discuss a way forward.

But now the 100 year old company, which designs and manufactures retail interiors, is on a firmer financial footing and on a course to clear its shortfall after a last minute finance deal gave it a new lease of life.

A spokesman for RBS said the bank had looked at ways to inject cash into the business to help it in the short term as well as advising it speak to an insolvency practitioner.

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been given direction from Liam at Anglia Finance.

"We asked for detailed accountant prepared New Balance Metal Cleats Baseball

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