Accident management company looking to raise money

Helphire is planning to bolster its balance sheet by raising £50m from a share issue.

The company has received indication that investors will support the proposal, as will the lending banks.

Details of the funding are expected to be finalised ‘in the near future’.

The Bath-based accident management company said in December it was set to axe 130 jobs as part of a ‘cost-reduction programme’. The cuts are expected to take place until the end of March.