PETER POWELL MCICM1 Tweeds Muir Close, Oakwood, Derby DE21 2JL

Telephone: 07951 902 416 (Mobile)Email: peterpowell@virginmedia.com

Professional ProfileI have over 30 years experience including working in three of the top firms of accountants in the country becoming a partner in one. I have extensive experience of implementing, initiating and advising upon successful strategies for businesses in various stages of growth, for the benefit of all stakeholders. This could include the raising of capital, performance improvement programs, workout programs, cost reductions, mergers, acquisitions and disposals, leading businesses through operational and financial reorganisation. I provide the support in managing the relationships, liaising between all stakeholders, professional advisors, employees and directors by managing people. Corporate work now demands a creative and flexible approach in order to minimise risk while maximising return.Possesses excellent communication and interpersonal skills to influence and negotiate with customers, suppliers, employees and financial institutions. Keeping solutions to the key issues within regulatory frameworks and legislation. I work well in a team as a member, leading it or working on my own. I roll my shirtsleeves up to get a job done. Demonstrates a breadth of knowledge and experience to work creatively with diverse industry sectors including, Manufacturing, Construction, Engineering, Retail, Lleisure, IT, Financial Services, Motor and Property Businesses.

Career Summary2011 – August 2015 Senior Manager/Director , F&R Timber Products Providing ongoing consultation and support to the partners of a furniture manufacturer in a cash and profit

crisis being monitored by their bank. Negotiated time and assisted in preparation of P/L, B/S and forecasts.Review treasury and dealt with foreign currency transactions

Previously converting the partnership into two limited companies and reducing 80% of the bank debt by introducing new funders and invoice discounters to refinance the business. Setting up the new businesses including Sage Line 50 for each company. Discussions and agreements with the employees,Unions, HMRC, financial institutions and creditors.Reviewed T & C’s to bring in line with business and commercial guidelines.

Reviewing costs to increase margins by 19%, selling and acquiring assets and making recommendations to increase the sales performance following meetings with customers.

Prepared monthly management accounts together with cash flow forecasts, balance sheets and P/L accounts

Advising the Directors in response to the withdrawal of a major customer order with significant impact on the cash flow and leading to the sale to a national retail manufacturer

Overseeing the management of the property and mortgage to raise the funding required to settle outstanding taxes with HMRC

2012 – 2013 Financial Accountant, Long Eaton Glass Ltd Managing and leading the recovery of a multi faceted business including property portfolios to

successfully prevent foreclosure and implement a plan to engage with new funders. Advising with Directors and launching an investigation with the approval of the bank to establish the

pertinent facts. Review available options, compile P&L, BS, cash, working capital forecasts and financial projections. Directors/partners were asset rich but cash poor.

Organised and help prepare monthly figures and then working collaboratively with accountants to produce reports for the bank and secure new funding including a restructure of the business

2010 – 2012 Consultant/NED, Metex Engineering Ltd Playing a pivotal role in the restructuring of the business which had suffered significant losses and a

substantial bad debt. Engaging with auditors, lawyers, bankers and invoice discounters to formulate a recovery plan that

alleviate financial issues within strict timescales and liaising with HMRC to negotiate a Time to Pay arrangement

Cut costs including redundancies and a 10% wages reduction for everyone.

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Sales and purchase contracts reviewed and renegotiated so as to increase margins Preparing P&L, working capital and cashflow forecasts. Extending credit terms and increasing sales

margins during contract renegotiations as well as securing new invoice discounters and banks Prepared monthly management accounts and improved the training of finance staff and senior

management. Reducing headcount and reviewing pay and reward schemes to maintain lower operational and staffing

costs Preparing Statutory Accounts for and with the auditors.

2009 – 2010 Cash Management Consultant, Ketech Group Ltd Initially joining the group to prepare, control and manage the cash flow for one of eight subsidiary

companies and quickly expanding to the full group cash management and Time to Pay project for HMRC Overseeing the management of the company restructuring and refinancing programme, securing £4.5m in

Shares, working capital funding and invoice discounting.Collating and consolidating financial information. Project managing the due diligence for sale of the building subsidiary including redundancy management

with HR for 40 employees and the relocation of 60 staff within the wider organisation. Improved terms from creditors and debtors.Piloted Invoice Discounting with Centric and obtained 65% funding on contracts including long term and a one off retention monies.On a number of long term contracts were made nominated sub contracters.

Reviewing and managing the preparation of financial accounts in weekly, monthly and quarterly reports to stabilise the group and define transformation strategies.The building company was sold and I provided assistance in the due diligence work.Also involved in other ad hoc investigations.

Career Summary continued

2008 Consultant, Sealant Manufacturer Establishing the financial stability of a private equity investment and identifying the loss making factors Implementing new IT systems, pay and reward schemes and business processes to turnaround the

business. Conducted a complete review of the costings and assisted in the implementation of the costings in a cognos system.This was also with the help of the managers, shop floor and directors to ensure best outcome.

2008 Business Transformation Consultant, Ameefa and Richardsons Sheffield UK subsidiary of Dutch group, Ameefa, acquired Richardsons out of administration.Provided experience

to help as part of the post- merger integration team.The team were new and were dealing with an acquisition of nearly 4 times larger than the UK business.

Reporting direct to the finance and managing directors Reviewing the financial status and resolving key financial, system and tax implications including Intrastat

for exports and imports Designing and implementing an operational framework with process maps, policy and procedure manuals

for supply, procurement, invoicing, credit control, asset management, returns and customer management. Instigated the invoice discounting and debt insurance procedures

2006 – 2008 Consultant, Advisor and Director to the Board, Europaper Ltd Provided experience and skills to help regroup and evaluate the above business in the paper industry.

Discussing with suppliersand customers in UK, Germany and Far East the best way forward.The business was making losses and had incurred a large bad debt.Cash flow became critical and had to be managed.

Assessed the companys financial systems, processes, controls and implemented improvements where necessary.Set up computer systems for stock, purchases and sales together with warehousing and distribution.

Invoice discounting was brought in together with new bankers and additional funding from the German supplier.

Maintaining excellent communication channels with UK and German supplier companies, creditors, banks and finance houses to understand the financial status of funding, cashflow forecasts and profit projections

Renegotiating supplier and customer contracts resulting in increasing margins from 10% to 24% and successfully securing a new major contract with a national client.Reducing wastage from 9% to 3% as well as additional costs from 13% to 8%

2001 – 2007 Regional Associate Director, Marshvale Corporate Services

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Part of a team including Turnaround and Restructuring Consultants providing support, assistance and solutions to Directors of underperforming businesses in financial distress

Understanding the commercial viability and core business objectives to align financial support from banks, lending institutions, equity funders and finance houses

Making recommendations and implementing strategic plans to improve cash flow, reducing costs and increasing business profits

Clients including: Conducting a strategic review of a warehousing and distribution business leading to a reduction in staff

and sites, contract renegotiation, full factoring and capital for pre packing to a new MBO team Restructuring and liquidating a London based computer technology retailer importing and exporting within

the EU and managing the divestiture of the business to an Italian company Significantly reducing monthly losses by 90% and negotiating a 5% margin increase with a multinational

supermarket as part of a turnaround programme for a bottled water, farming and property development group

Consultant to the Board and CEO tasked with the turnaround of Williamson Engineering including reviewing all contracts to renegotiate a 20% increase in major contracts and suppliers, saving 12.5% in staffing costs as well as successfully facilitating a CVA to repay creditors

Consultant to the Board in turning around a Security cash collections and handling company and successfully obtaining a Gold standard in the Security Industry

1994 – 2001 Corporate Recovery, Restructuring and Turnaround Specialist Providing services to a diverse range of businesses, as a Consultant,Director or Advisor to the Board and

leadership teams for operational, financial reorganisation, restructuring and transformation Working closely with lenders, bankers, solicitors, accountants and Directors to complete independent

business reviews that provides a clear and accurate view of business finances Managing all aspects of full insolvencies for liquidations, receiverships, administrations and CVAs Overseeing the financial management of diverse businesses across a range of industry sectors involving

financial modelling, projections, analysis and budgets Conducting UK and International fraud investigations including asset tracing and recovery

Career Summary continuedContracts including:Interim Finance Director, Printing and Packing Company Crisis management and strategic business planning for cash flow, debt management, improving profits

and managing relationships with the bank, factoring company, solicitors and courts Preparing cash flow forecasts, analysing profit margins and costs as well as implementing reporting tools

and procedures to closely monitor and improve the financial management of the business

Corporate Recovery Consultant, Pine Manufacturer Defining the recovery plan, producing profit and cash flow forecasts, analysing variances and costs Making recommendations to streamline costs and installing a new costing system for reporting lines Negotiating with Bankers, professional advisors, customers and government bodies to improve cash flow

Consultant to the Board, Manufacturer Reporting to the Board for restructuring the business including overseeing the preparation of monthly

accounts, variance analysis, profit and cash flow projections Liaising with company stakeholders, banks, customers and suppliers to review business plans and the

adjustment of staffing and production levels

Associate Director, Network International Ltd Completing pre-acquisition due diligence, asset tracing and recovery and providing business intelligence

across UK and International platforms Conducting investigations into procurement fraud, trademark and intellectual rights investigations Setting up and using covert companies, agents and databases to obtain information

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1990 – 1994 Partner, STOY HAYWARD / BDO

1986 – 1990 Senior Manager, COOPERS &LYBRAND / CORK GULLY

1979 – 1986 Senior Manager, THORNTON BAKER / GRANT THORNTON

Education and QualificationsOND: Sciences3 A Levels: Applied Mathematics, Pure Mathematics and ChemistryACA Part Qualified

MembershipsIFT: Pending member of the Institute for TurnaroundTMA UK: Member, Turnaround Management Association CICM: Member, Chartered Institute of Credit Management

Committee Member of the CICM East Midlands BranchCouncil Member and Regional Representative of Chartered InstituteOf Credit Management

Personal DetailsDriving Licence: Full Interests: Walking, Clay Pigeon Shooting, Football and Cooking

REFERENCES ARE AVAILABLE ON REQUEST

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