THE COMPANY

Established in 1987, P&P Group has evolved into a brand that is widely recognised in the travel and technology environment. The Group’s impressive portfolio comprises of Leisure Online, Agency Wholesaling, Fulfilment and Travel Technology divisions working both in the UK domestic market as well as on an international basis.

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CHALLENGE

As a result of Covid-19, governments placed restrictions on global travel which had an immediate impact on P&P Group’s business activities. Whilst experiencing an interruption to its sales, P&P Group sought our support in accessing funding through the Coronavirus Business Interruption Loan Scheme (CBILS).

Whilst our client had already engaged HSBC, a formal CBILS approach had not been made. This allowed our advice to be considered and gave time to put certain things into place to ensure a successful outcome. We engaged with P&P Group’s owners to understand the nature of the business interruption and actions they had taken. We condensed management information into a concise and compelling lender presentation pack.

We worked closely with P&P Group’s Finance Director to determine the working capital needs over the next 12-18 months. We analysed and modelled cash flow forecasts to determine the required level of funding. We assessed affordability for the benefit of both P&P Group and the bank. This underpinned a detailed funding proposal to support the application to HSBC.

To allow P&P Group’s owners to focus on running the business, we supported and streamlined the application process and led negotiations with the bank relationship manager. Together we were able to build a robust business case and CBILS application that were sufficient to support the business over the next 12-18 months.

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OUTCOME

We helped P&P Group secure an undisclosed CBILS loan to cover the anticipated working capital needs over the next 12-18 months. Along with the swift actions PPA Group’s management team applied to the business, the company will be able to fully withstand the disruption from the Covid-19 pandemic.

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TESTIMONIAL

"
Very professional service! Rick was always available to get the deal completed ASAP, his knowledge of the process required has been invaluable."

Phil Cook
Chief Executive Officer, P&P Group Limited