Administrators called in at Greater Manchester third sector organisation
A third sector organisation that provides investment to social enterprises in Greater Manchester, and leads on partnerships, has appointed administrators.
Emma Mifsud and Charles Turner of Opus Restructuring LLP were appointed as Administrators of Greater Manchester Centre for Voluntary Organisation (GMCVO) on 27 November 2024.
A statement said: “The Administrators are reviewing the activities of GMCVO and may be able to rescue at least some elements by transferring them to other partners, subject to agreement with the relevant stakeholders.”
The organisation, based in the St Thomas Centre on Ardwick Green, describes itself as a membership organisation which “works to increase economic and social inclusion in Greater Manchester through effective collaborations and supporting other organisations to achieve their goals.”
It seeks to investment and describes itself as “a lead body for networks and partnership projects.”
Its current projects for which businesses are invited to apply for support include: Proper Good Investment, which provides loans for social businesses based in Wigan, Stockport, Oldham and Bolton; the Enterprising Communities Fund, offering blended finance up to £100,000 for social businesses looking to grow their trading, and an Energy Resilience Fund designed to help social businesses reduce their carbon footprint and energy costs.
In its last accounts for the financial year ending 31 March 2023 filed at the Charity Commission the organisation total income of £3,324,605, including £1,850,233 from 17 government grants and total expenditure of £3,653,164. Its accounts are 84 days late.
The administrators and the senior leadership of GMCVO have been approached for further comment.
