Intro 2020 Limited operated as a UK based importer and distributor of high-end photographic equipment. It had suffered long term decline in turnover due to increasing inline competition and DSLR cameras becoming more ‘niche’ due the advancement of smart phone cameras. Covid disruptions led to significant supply and distribution issues further reducing sales and impacting on cash flow.
Despite searching for further funding and implementing financial mitigation measures, the company’s working capital had become severely constrained.
On 23 June 2021 BDO was engaged to undertake an accelerated merger and acquisition process and a sale of the business and assets was completed to Holdan Limited.