lobby, the CBI, has received funds to remain operational following reports it was in grave financial trouble in the wake of sexual misconduct allegations.
The CBI, which cancelled last week's annual general meeting, has faced an exodus of member companies since the allegations surfaced earlier this year, sparking a dramatic overhaul. British media said a group of banks had come to the rescue after reports the organisation had sought £3 million in emergency funding.
"We are satisfied that we have secured the financing necessary to overcome the short-term cash flow challenge and that the organisation remains in a strong medium to long term position," the Confederation of British Industry said in a statement received by AFP Monday, confirming the weekend reports.