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Anthony Clacher, CFO - Group Five
Spotlight: Group Five
CFO - Group Five: Anthony Clacher
The problem
We faced an insurmountable task; given the sheer extent of the Group structure with some 180 Companies in existence across various countries and jurisdictions, notwithstanding the challenges that were faced with the Company being placed in Business Rescue.
The solution
The BR process was voted as the best Business Rescue for 2021 as adjudicated by Dealmakers with Creditors being placed in a better position than liquidation resulting in the majority of Secured Creditors being repaid and concurrent creditors receiving distributions throughout the process dependent on the timing of cash inflows relating to unsecured assets. Putting this into context, the debt at the commencement of the BR process was in excess of R5,0bn.
A 'thank you' to my FD/CFO
"Thank you to you and your team’s support in being flexible and adaptable through the entire process, ensuring that we had the right skills at the right time to achieve what is possibly ranked as the biggest and most successful Business Rescue in South Africa." Anthony Clacher
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