XMPR has staved off the prospect of liquidation after its creditors agreed on Monday to freeze repayment of its debts for six months. The consultancy’s ten jobs are now “safe”, says managing director Rob Davie.
The group was threatened by liquidation if its debts were not rescheduled under the Creditors Voluntary Arrangement (DW 5 January). The emergency move was forced by a cashflow crisis.
XMPR received “virtually unanimous” approval for a six-month moratorium on repayments.
“We had 99.5 per cent support,” says Davie. “The process has been both demanding and difficult for us all, but I’ve been extremely encouraged by the support given to us by clients.”