Charity to miss out on £40,000 a year

Children’s wish-making charity Promise Dreams will lose out to the tune of £40,000 a year with the collapse of its main corporate sponsor, it emerged today.

Around 70 workers lost their jobs when the Wolverhampton loans and mortgages company, Promise Finance, went into administration last week. Staff were told they would not be paid for the last month.

Now company chiefs have dealt a blow to Promise Dreams staff by revealing they can no longer underwrite the running costs of the charity.

Patron Steve Bull is appealing to local businesses to help so that youngsters do not lose out.

Promise Finance, based at the former Goodyear site in Stafford Road, donated £10 to the charity on the completion of every loan deal, which went towards paying staff salaries and other costs.

Group sales and finance director Suresh Bawa said the firm could no longer contribute hard cash but vowed their parent company Promise Solutions would continue paying the charity’s rent, rates and electricity bills.

“It’s sad what we’re having to do,” he said today.

“In the past five years Promise Finance has contributed in excess of £200,000 to Promise Dreams but that is going to stop.

“It’s horrendous not being able to contribute in the way we did.”

He said 90 per cent of Promise Dreams’s contributions came from sponsors based within 12-15 miles of Wolverhampton.

“In these difficult times there is still a need to help seriously ill children,” said Mr Bawa.

“We are going to have to get other corporate sponsors on board.

“Promise Dreams needs more help now than it did a few months ago.

“This is not an easy time but our commitment to the charity is still there.”

Bully added: “The news about Promise Finance is a blow but we’re hoping it will not affect the charity if people come forward and answer the call to help.

“We realise it’s a huge ask and it may be that more than one company takes on the role.”

He asked potential sponsors to contact charity manager Beverley Bird on 01902 378595.