Insight CCI ended up with debts of more than £700,000 and had no other choice but to appoint liquidators. Unfortunately 150 employees were made redundant and the centre closed on the 26th February.
Since last year’s incident, authorities have toughened up regulations and charities have shied away from using these fundraising services, making it harder for call centres to retain clients.
Insolvency firm, Larkin Gowen, were first contacted regarding a company voluntary arrangement (CVA), however over the next few months it became clear the company was no longer viable, therefore creditors voluntary liquidation was the best option for creditors.
It’s expected more companies in this sector will continue to struggle as the Fundraising Standards Board tightens rules even more to stop what happened to Olive Cooke.