Tech for good firm out of administration after court backs restructure plan

Tech for good company GoodBox has been lifted out of administration after a plan to restructure the business was approved by the courts.

The decision means the firm, which specialises in contactless giving, will be able to continue to fundraise.

GoodBox, which has worked with clients including The Natural History Museum and supplied contactless giving points across all eight of London’s Royal Parks, had been able to trade during the administration period.

“The new agreed solution will allow the company to work with and support current and new clients and solidify its position as the market-leader in this sector,” said Manchester based GoodBox.

Its chief executive David White added: “We are delighted to have agreed a restructuring plan for GoodBox and are looking forward to focussing on supporting not for profits across the UK. The firm has some exciting plans and thanks to the agreement we are able to start implementing these to secure the future of the company.”

Last year it emerged that board room disputes and the impact of Covid had impacted the charity’s finances. This prompted the High Court to appoint administrators and work on a restructuring plan to allow it to survive and find further funding.

Its statement last July said that "as you will be aware, the impact of the pandemic has hit the charitable sector hard, and recovery has been slower than anticipated".

It added: “Moreover, there have been some internal disputes at board and shareholder level which have stalled the company’s ability to secure the additional investment needed to support the business.”

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