Turning over some £5m, money was haemorrhaging fast. The business had grown very successfully over the previous 6 years with an innovation in the graphics industry and had invested in a plethora of other very diverse businesses.
In the mix of the various groups was lack of effective management, no financial systems, no financial control and a major fraud in one set of subsidiaries. With the sale of many of the
divisions for more than they were really worth and improvements in the effective management and financial control of the business, Mel was instrumental in turning the business into good profitability within 2.5 years.