More than 200 jobs have been saved after a national children’s charity, based in East Lindsey, came out of administration.
The future of Children’s Links - which provides a lifeline to thousands of children, young people and families - is based in Horncastle and employs people from across the district, including the Louth area.
The charity formally entered administration in December 2016.
A Midlands based accountancy and business advisory firm, Smith Cooper, were appointed as administrators and have confirmed the charity is now ‘back in the hands’ of its Board of Trustees and senior management team.
Chief Executive Officer Karen Parsons spoke of her ‘relief’ and thanked the administrators as she pledged the charity could now focus its efforts on the future.
She said: “To finally be through this challenging period is a relief to us all.
“The team at Smith Cooper is made up of personable and consummate professionals and their dedication and passion to achieve the best outcome is the reason why we are still able to provide the service that we do.
“We are now in a position to focus on maintaining the amazing services while looking to engage new strategic partners and funders to support our growth and the vital services that the charity provides.”
Smith Cooper say they delighted Children’s Links - which helps hundreds of families across Lincolnshire - has come through during a ‘distressing period.’
Michael Roome, Director of Business Recovery and Insolvency at Smith Cooper, said: “We couldn’t have hoped for a better outcome.
“Everyone involved was absolutely desperate to achieve what has been a successful outcome for all concerned.
“It is difficult not to become emotionally invested when financial distress impacts the lives of so many people.
“Some tough decisions had to be made which has allowed us to put together a strategy that should allow the charity’s creditors to be ultimately paid off in full.”