Cherries blossom again !

State Securities, Tenon Recovery and Lester Aldridge recently hosted a successful social evening at Southampton (UK) Yacht Club on behalf of the Turnaround Management Association (TMA).

Around 37 local accountants, solicitors, human resource professionals, lawyers and turnaround professionals were addressed by guest speaker Trevor Watkins, ex-Chairman of Bournemouth Football Club and partner at Ensor Byfield, lawyers in Southampton, who gave an enlightening and informative talk on the turnaround of the club following its receivership in 1997.

Paul Burke, Southern Region Committee Member of the TMA and Director at State Securities, said: The evening was an ideal opportunity for us to meet local like-minded businesses in the area who are keen to develop and maintain companies stability and profitability. Trevors inspirational speech demonstrated the value that turn around professionals can offer to business that may be suffering financial hardship."

The next Southern regional event is scheduled for 21st March in Bristol. For further information on this event, telephone Sarah Garrett on 01489 775600.

-ENDS-

FOR FURTHER INFORMATION AND PHOTOGRAPHS CONTACT :

Jo Macklin
State Securities         
Tel : 01489 775600
jmacklin@statesecurities.plc.uk

Elka Raine, TMA            
Tel : 0207 7985629

NOTES TO EDITORS :

State Securities offer assistance to UK customers who are looking to raise finance for the acquisition of assets either new or used, along with the re-financing of assets already owned by the business. It also provides commercial mortgages for properties such as factories, warehouses, offices and retail.

State Securities works with a wide range of clients, including public and private limited companies, partnerships and sole traders as well as companies which have difficulty in raising finance in a short period of time, for example new start businesses and businesses in corporate or individual voluntary arrangements.

State Securities has over 20 years experience in the asset financing market and are part of First National Bank plc which provide a range of personal and business finance solutions. First National Bank is one of the UKs leading finance houses with 4000 staff, relationships with over four million customers and net loan assets of around 9 billion.

First National Bank plc, which has head offices in Harrow, became part of the Abbey National Group in 1995. Rapid growth in the last five years has seen First National grow to more than eight times the size it was in 1995, and profits have leapt by 130 million in the same period.