Purple Vision ceases trading
Melanie May | 4 August 2017 | News
The directors of Purple Vision have announced that the company has ceased trading as of 31st July 2017.
In a statement on the Purple Vision site, the directors said that a voluntary liquidation would start as soon as possible, and called it a ‘difficult and reluctant decision [that] has been taken now to avoid as far as possible any negative impacts on our staff, creditors and customers.’
According to the statement, by going into voluntary liquidation now the company had managed to ensure that ‘all salaries are paid to date, and to minimise the impact on those few trade creditors that exist.’
The directors have attributed the company’s demise to a strategy of growth begun in 2016 that had unfortunately proved unsuccessful, saying in the statement:
“In April 2016, Purple Vision embarked on a strategy of growth with the aim of achieving long term sustainability. This strategy involved merging with another business as well as investments in the structure and resources necessary for growth. Unfortunately, this plan was not successful. The directors decided to consolidate by disposing of part of the business and restructuring to re-establish the stability that had previously existed. This process has been underway since April but in that time in a difficult trading climate new business has declined substantially, placing increased financial pressure on the downsizing plan.
“The directors have concluded that, without further short-term funding, the business cannot continue trading with confidence that future obligations will be met, and have made the reluctant decision to close, rather continue to trade and incur costs or make commitments that might not be honoured.”
Wilkins Kennedy LLP has been appointed to assist with placing the company into voluntary liquidation. Any questions in the meantime can be directed to Megan Andrews, Senior Manager Wilkins Kennedy LLP, Bridge House, London Bridge, London SE1 9QR 0207 403 1877
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Purple Vision has helped more than 300 clients over 14 years of operation in the non-profit sector. A specialist technology consultancy that was also a Salesforce partner, it offered support with Salesforce, CRM, digital, marketing technology, fundraising, data, and analytics. It had also previously offered training courses to support people new to or looking at returning to the voluntary sector.
Steve Thomas, Purple Vision’s CEO, told UK Fundraising:
“It is very sad, after almost 14 years, to make the difficult decision to close the business that many of us have worked hard to build. But just as we are passionate about our work and the opportunity to make a difference, the caring attitude of our customers, partners and colleagues has reflected back on us this week. We have been touched by many messages of support that we have received and I would like to say a big thank you to all our friends for their kind thoughts, and wish everyone who knows Purple Vision all the best in the future.”
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About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.