NEWS6 January 2023

Traverse closes citing economic instability

Cost of Living News UK

UK – Employee-owned social purpose consultancy Traverse has closed due to the current downturn in the UK economy.

Uncertainty question marks economy_crop

A statement posted last month by Traverse chair Janine Chandler said that the company would close on 5th December after more than 30 years of operation.

Chandler said in the statement that the political uncertainty and economic instability in the second half of 2022 had “severely impacted” the company.

“With more than 30 years trading under our belt our business has weathered many difficult times, but this storm it hasn’t survived,” Chandler wrote.

“On behalf of the team, I’d like to say a huge thank you to all those who have been part of Traverse’s journey, past and present.

“Traverse championed better decision-making through the power of inclusion, and our legacy will live on through our clients’ work, and through the expertise of our talented team.”

Traverse was set up in 1989 as the UK’s first employee-owned public interest company, and was formerly known as Office for Public Management, renaming itself as Traverse in 2018.

Traverse, which acquired Dialogue by Design in 2012, offered insight and strategic device on social and environmental issues of local, national and global significance.

Licensed insolvency practitioners Purnells has been appointed to handle Traverse’s closure.