The Herefordshire-based company, which provides print management as part of its services, went into administration on 15 June with Nick Rimes and Adam Jordan, of insolvency practitioner Rimes and Co.

A sale of the assets, which comprises the company's contracts, was made the same day to two separate companies, CSDM Fundraising Directors and CSDM Strategic Fundraising.

Both companies are operated by CSDM director Chris Stoddard who will continue in his role as chairman. All 30 staff have been transferred over to the new companies, both of which will operate from CSDM's existing Ross-on-Wye facility.

According to Stoddard, all creditors will be paid in full – a claim supported by Rimes and Co case administrator Kate Stokes, who said: "At this time, we envisage that all creditors will be paid in full through money that is due to come in and the sale of the assets."

Stoddard explained that the company had gone into administration in order to restructure in a "transparent" manner that would be "wholly on the public record".

A statement from the company said: "CSDM elected to restructure by going into administration because it was the most transparent and regulated way to transfer the business assets to the new companies.  

"Because the charity sector has scrupulous requirements with regard to transparency, this strategy was deemed to be the most suitable to the sector’s high standards."

Going forward, the new companies will separate contracts based on their size. CSDM Fundraising Directors will deal with charities on a 'pay from proceeds' model – so clients will have no up-front costs and CSDM is paid down the line based on donations from the campaign.

CSDM Strategic Fundraising will deal with charities in a 'pay as you go' model – charities will pay for services on an ongoing basis, regardless of donations. This model will be used predominantly for larger charities.

The two companies are expected to generate a turnover of around £2.5m in the next 12 months.

Stoddard added: "For some time, we have recognised the need to evolve our structure to meet the changing needs of the charities we work with. This restructuring process is the result of long-term planning and will enable us to fundraise more effectively for charities of all sizes.  

"Our clients and employees are on board with the new structure and are excited about its greater potential for facilitating donations to the worthy causes we support."