Outsourcery appoints liquidation specialist as director
Bringing in non-exec director is part of the terms of the recent Vodafone loan
Cloud service provider Outsourcery has brought in an insolvency and restructuring specialist as a non-executive director.
The appointment is linked to one of the conditions laid down by Vodafone when it last month provided cash-strapped Outsourcery with more working capital to help it get through its continuing lean period.
The Manchester-based CSP has appointed David Duggins to the board as a non-executive director with immediate effect. Outsourcery says the working capital promised by business partner Vodafone has now been made fully available to the company.
Duggins, aged 60, is a senior adviser at Gordon Brothers Europe, a global advisory, restructuring and investment firm. He was formerly a partner at Ernst & Young LLP.
He holds a number of other directorships, and in the course of his job has helped liquidate a long list of other struggling companies in recent times. Outsourcery will of course be hoping that doesn’t happen to itself.
Outsourcery was recently able to announce a contract win with Keoghs, a top 100 law firm, to deploy Skype for Business across the organisation. The Bolton-headquartered firm is a UK leader in providing legal and claims-related services to the insurance industry.
@AntonySavvas