BeatBullying discussing potential takeover with a number of organisations

In a statement on its website, the trustees of the charity say they hope to bring negotiations to a conclusion soon

The BeatBullying Group is in discussions with a number of organisations about a potential takeover of the charity.

Third Sector revealed last week that the anti-bullying charity had decided to appoint administrators because it was facing "significant financial challenges".

But an updated statement from the trustees placed on the charity’s website says: "With the support of our legal and financial advisers, 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."

The statement says it has had some "serious interest" from other, larger organisations that have expressed a desire to purchase part of BBG as a going concern. It says the charity anticipates the discussions will be taken to a conclusion very soon.

The charity says it is also working with a restructuring expert in the hope that it can continue to provide its services to young people.

The trustees say BBG has filed a second notice of intent to appoint administrators in the High Court, pending the conclusion of negotiations in the next few days with organisations interested in taking over the charity.

The statement adds: "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."

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