Jobs saved as Horncastle-based charity exits administration
The future of Children’s Links - which provides a lifeline to thousands of children, young people, and families across the country - formally entered administration in December 2016.
A Midlands-based accountancy and business advisory firm, Smith Cooper, were appointed as administrators and have confirmed the charity is now ‘back in the hands’ of its Board of Trustees and senior management team.
Chief Executive Officer Karen Parsons spoke of her ‘relief’ and pledged the charity could now focus its efforts on the future.
She said: “To finally be through this challenging period is a relief to us all.
“The team at Smith Cooper is made up of personable and consummate professionals, and their dedication and passion to achieve the best outcome is the reason why we are still able to provide the service that we do.
“We are now in a position to focus on maintaining the amazing services while looking to engage new strategic partners and funders to support our growth and the vital services we provide.”
Smith Cooper say they are delighted Children’s Links - which helps hundreds of families across Lincolnshire - has come through a ‘distressing period.’
Michael Roome, Director of Business Recovery and Insolvency at Smith Cooper, said: “We couldn’t have hoped for a better outcome. Everyone involved was absolutely desperate to achieve a successful outcome. It is difficult not to become emotionally invested when financial distress impacts the lives of so many people. Some tough decisions had to be made, which has allowed us to put together a strategy that should allow the charity’s creditors to be ultimately paid off in full.”