The D'Arblay Street company has enlisted the aid of business turnaround specialist KSA to advise it. Facility director Ant Hayward said: 'We have approached KSA to deal with the old debt that was picked up when work was quiet. The turnaround companies don't take you on if they don't think that you're a viable long-term business.'
A company voluntary agreement (CVA) is likely to be filed within a month, where creditors will be asked to agree to a repayment scheme. Young companies who have forecasted increased future profitability but hold a heavy level of creditor pressure often use CVAs to distant themselves from start-up costs.
Hayward explained: 'We've had plenty of work over the past few months and want to put that old debt to one side.'
Fusion is currently in negotiations with a number of investors.
Credits include Gender Swap and How Clean is Your House?.