Hundreds of employees made redundant following collapse of fundraising firm
- Credit: Archant
Hundreds of employees at a fundraising firm with an office in Norwich have been made redundant following the company's collapse.
London-based HOME Fundraising Ltd went into administration on March 1 after more than 16 years of trading on behalf of charities across the UK.
The company, which had an office at St Vedast Street in Norwich, said 600 employees were entered into a redundancy consultation.
Administrators HW Fisher and Company have today confirmed all 600 people have been made redundant.
Thirty employees from the Norwich office at St Vedast House have lost their jobs and all 16 regional offices have suspended operations.
Joint managing director Dominic Will said: 'We are deeply saddened that, after so many years in the sector, HOME Fundraising must go into administration.
'In particular, we feel for our fundraisers and staff, who've been such passionate advocates for the charities we have worked with and have initiated so many long-standing donor relationships.
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'Our staff have undoubtedly been HOME's biggest asset.'
HW Fisher and Company has been appointed to continue the redundancy process and to actively seek buyers for all or part of the business and assets.
HOME's fundraising services was contracted on a payment by results model, minimising the risk of liability to charity clients.
Mr Will said it had been an 'extremely difficult' time for fundraising agencies in recent years due to changes in the marketplace.
He said: 'There is also considerable uncertainty within the UK economy to which very few businesses will be immune, particularly those that carry significant staff and infrastructure costs.
'Ultimately, despite all of our efforts, we have been unable to reconcile the cost of adapting and down scaling within the capacity of the ongoing business.
'Taking the company into administration at this juncture is the most responsible course of action.
'We would like to take this opportunity to give heartfelt thanks to all of our clients, our staff and sector supporters over the 16 years we have worked together.'
HOME Companies Ltd, continues to operate as parent company to HOME India and creative consultancy Wisdom Fish.
A spokesman for HW Fisher and Company said: 'HW Fisher & Company was appointed administrator of Home Fundraising Limited on March 1, 2019.
'Following this appointment, everything was done to try and find a purchaser and minimise disruption to employees, but unfortunately this wasn't possible and redundancies were the only option at this stage.'
• The administrators have been contacted for comment in regard to the loss of jobs in Norwich.
• Are you a former employee? Email firstname.lastname@example.org or call 01603 772684