Case Study: Crisis Stabilisation, Financial Leadership and Turnaround/Transformation Support ​

Turnaround & Transformation
Turnaround & Transformation

Background

Kingsgate were introduced to a private liberal arts university in November 2019. The University, at the time, was facing a period of unprecedented distress and imminent closure due to an irreconcilable breakdown in its relationship with its previous funders. A small Kingsgate team were engaged to support the finance team, which had high turnover and no leadership; and to oversee delivery of critical projects to help preserve value whilst a solution was sought.

How We Helped

  • Served as a trusted advisors to Executive team and Board of Trustees
  • Provided cash flow planning and scenario modelling to the Executive team and provided updates to the Board of Trustees, assisting in their assessment of the on-gong risk of wrongful trading
  • Helped to ensure structure and substance to M&A process
  • Provided contingency planning support in respect of ensuring robust closure plans, models and scenario based outcome plans
  • Set up and delivery of PMO structure and activity tracking, governance and accountability
  • Led conversations with regulators and managed responses and strategy regarding regulator intervention
  • Supported delivery of year-end audit and accounts, on a ‘not a going concern basis’
  • Recruitment of a fit for purpose, senior finance team

The Results

  • Successful partnership with overseas University with financial support, securing the University’s future. 
  • Post-deal integration work completed to ensure a sound financial and operational footing for the University going forward.