London City Facades Ltd is a leading contractor which designs, manufactures and installs full exterior facades for residential and commercial projects. Working with a number of well-regarded national developers in the South East and Greater London, the company provides a complete project management service, from the design phase through to final installation.
The successful and profitable business, previously known as Luckywheel Ltd, was driven into administration after a director’s dispute led to cashflow problems.
However, CEO Lilliana Savchuk was keen to rescue the company from the brink and contacted ABL Business.
Knowing that Lilliana only had a three-week window in which to buy back the company from the administrators, Alex Beardsley of ABL Business was quick to recommended Reward Finance Group, as she knew that we could deliver on a deal with a complex and unusual background within the tight timescale.
Our Joint Managing Director, Dave Jones, recognised there was a successful business worthy of support and quickly arranged a £965,000 Business Finance bridging loan. This enabled Lilliana to buy the trading premises from the administrators – including the company’s manufacturing and office facilities and equipment – and clear all outstanding loans, so the business could relaunch with a clean slate.
In addition, London City Facades retained all the employees and assets, as well as an order book of contracts worth around £6m.
Speaking about the funding, Lilliana said,
“I needed to act very quickly to meet the deadline for what was effectively a make-or break situation and I was extremely impressed by the way ABL Business and Reward Finance Group sprang into action to help me get the crucial finance in place.
“Sometimes problems arise that are out of your control and it’s invaluable to know that you can work with trusted advisors and lenders who will support you throughout the process right through to the other side.”