Here are a few case studies where Geeves applied practical solutions resulting in expected outcomes . ߛ ߛ ߛ
"Was able to restart my life!" Rowan, Raikon Logistics Business Area: Logistics
Met owner Rowan at a networking event, both at the time Steve and Rowan were in construction and house conversions. The stayed in touch and two months later, Rowan contacted Steve that his company overstretched itself, expanded too quickly and now they were struggling completing the numerous projects, there were 5/6 projects they had on the go. Met up with Steve, it was made evident to Steve that the company expanded too quickly taking on too many projects without the correct quality of stuff, and managers in place, site managers, one by one the projects were falling behind. The company was also struggling to pay their suppliers, with 20/30 pressurizing phone calls a day coming from Suppliers chasing their money. Steve suggested diverting the calls to his office, to deal with them on the companys behalf, taking the pressure off the Directors. At that time, Steve investigated the company to see if it had a viable future, unfortunately the final conclusion was to liquidate the company.Rowan was relieved, and acknowledged how diligent and hard Steve worked. Rowan was able to restart his life in a new business and leave the past challenges behind.
"Saved 100 staff jobs." Client D Business Area: Logistics & Warehousing
We were on the ground dealing with all debt related issues saving one location from receivership on the day, and rescuing business back from the bailiffs. Found solutions to the company's debt problems, provided new suppliers, and negotiated an initial investment by way of a private investor all within two months. Reduced operating costs, supported the cash flow and saved 100 staff jobs. Now a 12m turnover business.
"Have continued to support new business." Director, IT Business Area: Information Technology
Steve contacted owner Afzaal via Linkedin. Steve got notification/read post that the company was facing financial issues. Steve the owner met on a Saturday, spoke for about 3 hours. During the conversation, the owner mentioned that he hasn’t opened up any of the company posts for about 6 months, 50 to 100 letters, that haven’t been opened. As far as the owner was concerned, they were all from bailiffs. After the meeting, Steve left the owner with the thought that he may have to fold the business, so Steve said he will come up with a plan for him. Steve asked him to do one thing for him, and that is to start opening and reading the posts and put aside for him what seemed important and required immediate attention. To Steve’s amazement, the owner had cleared up the post for the next meeting the following week. That was a great sign! It showed that the owner was willing to move forward with Steve and willing to do the work to help him get out of the situation. The company started getting into trouble a few years ago when the warehouse it used to store its IT equipment’s and shared with another maintenance company caught fire when one of the workers from the maintenance company (mistakenly setfire). Consequently, the owner lost all its stock and had to stop trading.
Nevertheless, IT Parts started up again last year. As soon as he opened for business, creditors started chasing him again for money!
The company was much smaller than before and didn’t hold much stock, so literally it was a start back from scratch. The owner wanted to honor the payments to the suppliers/creditors. However, unfortunately it wasn’t very much feasible. After Steve discussed with the owner his options, it was decided to place IT Parts into administration and liquidation and to start afresh with as new company, IT Slough Recycling. Together, Steve and Afzaal were able to fend off any bailiff visits, buying time to put the company into liquidation which was successful with a few close calls. IT slough was now all up and running and Steve started using his network to basically find work for IT Slough. He did so by bring and collecting IT equipment that need recycling, etc. from his local neighborhood. Steve also used his social media network to generate interest in IT Slough. So far, to date, IT Slough managed to generate work from London, Berkshire, and as of today, Steve as the company business cards to further expand the company around the country.
"Found £300k cash injection in the nick of time" Nevistar Logistics, Business Area: Logistics & Warehousing
Managing Director of Nevistar contacted Steve stating that he as bailiffs on his back, which he admitted having left it too late. Called Steve to see if there’s anything he can do to assist. Steve got all the details and familiarized himself with the situation as it stands. Soon, Steve jumped on the phone to the bailiffs, who then put him in contact with Standard Life, who were the landlords and had sent in the bailiffs for the second time. During the next 24 hours, Steve had a long discussion with Standard Life and managed to negotiate a later payment agreement term. That week, the Managing Director further asked Steve to find a solution to their cashflow problems, which obviously meant a cash injection. The company already had financing from a factoring company. The options were to find a new investor with private equity or to liquidate the business, prepack it and then, clear the debts, liabilities and start afresh. The company had around £300k worth of liabilities that they couldn’t meet through its cashflow.
Unfortunately, the company had to be put on stock by a lot of its suppliers. Being based at Heathrow airport which was Steve’s main place of operation for over 20 years, he called upon contacts of his in the logistics industry to support the company with supplies, extended credit until Steve had successfully decided on the best route for the company. Steve’s contacts and suppliers did this, on the basis that they knew him and trusted him to look after their money/investment. The project took over 5 months, within three months, Steve was able to successfully point the company into the right direction by finding £300k private individual to provide a cash injection, right at the last moment. Basically, at the airport, there was a customer bond that had to be paid off every month for logistics trading companies. Without being paid, logistics, airfreight companies would not be able to clear out goods arriving into the UK on behalf their clients. Literally at the 11th hour, the investment was found, and it was agreed! Money was transferred over, which allowed the company to continue trading. This was a very hard job in the end. Even though Steve managed to prepack the business and bring it out the other side, he further recommended in excess of £30k a month worth of savings to the managing director, tough decisions consideration the situation, such as laying anybody off, reduce salaries, cut costs, various options Steve came up with, however, the owner decided to carry on with the former status quo, with hindsight, the managing director was more of a salesman and believed that he could sell his way out of trouble. Given that he had been given a cushion to work on cashflow wise. But obviously, changing the company name doesn’t make a company profitable. Chasing more business costs more money in cashflow terms. there was a bit of a mistrust built up between Steve, the investor and the Managing Director and this meant Steve had to stay around a lot longer than anticipated to try and control the situation.
The lesson learnt from this: ‘If you invest money in a company, take control of the bank account! Even thought the investor had shares in the business and had enough shares to control the business, by the time the paperwork is completed, it could be way too late. So basically keep hold, get control of the bank account’.
In the end, the Managing Director couldn’t praise Steve enough. He couldn’t believe the amount of ingenious, practical and successful solutions Steve was able to come up with to help save his business