Leonard Curtis borrows £5m for roll-out

INSOLVENCY firm Leonard Curtis has secured a £5m funding package from The Co-Operative Bank to help to grow its network of offices.

The company, which is headquartered in Greater Manchester but currently employs 150 people from  eight offices including Birmingham, London and Bristol, has said that some of the funding will also be used to grow its turnaround and debt advisory business, Corporate Strategies.

Paul Reeves, business development director at Leonard Curtis said: “We have an exciting vision for Leonard Curtis and for Corporate Strategies and securing this funding package means we will be able to turn it into reality.

“With so many businesses struggling with issues like Crown arrears, finding access to funding difficult or experiencing cash management problems, we have seen unprecedented demand for debt advisory services.

“It’s a part of the business that has been growing strongly and we will now be able to accelerate this process.”

The company recently took on Daniel Booth as national head of its Corporate Strategies business, while former Clearwater Corporate Finance executive Jon Mercer has joined as finance director.

Mercer said: “This facility will allow us to accelerate our growth plans. As well as through organic growth, our strategy may involve selective acquisitions to complement the national presence we have already developed.”

Leonard Curtis was advised on the funding arrangement by law firm Cobbetts. The Co-operative Bank was advised by DWF.