Papyrus can confirm that Emma Mifsud and Charles Turner of Opus Restructuring & Insolvency have been appointed Joint Administrators of the charity.
The appointment follows an extended and extremely difficult period in which the charity’s Board of Trustees and senior management explored every available option to secure Papyrus’ future. This included changes to its operating model, cost reductions and consideration of whether services could be transferred to other organisations, to protect the services provided.
Despite these efforts, and against a backdrop of rising demand, increased trading costs, and a reduction in reliable funding across the sector, the Board concluded that the charity was no longer able to continue operating in such a climate, taking the decision, to appoint insolvency practitioners in line with their fiduciary duties.
For almost 30 years, Papyrus has worked to prevent young suicide in the UK through its campaign work, education, training and direct service provision. We are enormously proud of that work and of everyone – staff, volunteers, trustees, supporters and fundraisers – who has contributed to it.
The Joint Administrators recognise the charity’s significant contribution and the dedication of its staff, volunteers, trustees and supporters. Their focus will now be on managing the charity’s affairs through the administration process and supporting an orderly closure. Further information will be provided as and when it becomes available.
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