As has been widely reported in the media and on social networks, The BeatBullying Group (BBG) has been experiencing some financial difficulties and in recent months these have become increasingly challenging.
We understand that this has been an especially difficult and frustrating time for those who have come to rely upon services such as BeatBullying and MindFull, and everyone connected with BeatBullying, particularly whilst the service has been taken offline.
With the support of our legal and financial advisors, we are currently engaged in intensive discussion and negotiation with a number of third parties, so that we can find the best way forward for BBG, all those who rely upon the services, its staff team and, importantly, the creditors to whom we have commitments. BBG's incredibly committed staff team also continue to work behind the scenes.
We do have some serious interest from other larger organisations who have expressed a desire to purchase part of BBG as a going concern. We anticipate those discussions will be taken forward to a conclusion very soon. We are working with a restructuring expert, who is aiming to finalise a solution as quickly as possible in the best interests of creditors and in the hope that we can continue to provide the services that many young people use and depend upon. To assist us in that process, BBG has filed a second notice of intention to appoint administrators in the High Court pending the anticipated conclusion of negotiations over the next few days.
We particularly understand the frustration felt by people who have not been able to find out more about BBG's current circumstances. Our focus has been firmly on trying to find a solution to the problems we face, and we have been restricted in what we can and cannot say in public whilst we try and find a solution. It is our hope that we will be able to update you more frequently with progress in the very near future.
Finally, in our difficult task, we have been heartened by the goodwill and support we have received for BBG from the many people who have supported or worked with the charity over the years, or who have been part of the BBG community as mentors and service users.
The Board of Trustees
The BeatBullying Group
24th October 2014