Directors of the business lobby group have hired an unnamed City law firm to advise on trading it as a going concern ahead of a vote next week that will determine its future, Sky News learns.
Next week's ballot will take place on a 'one member, one vote' basis, with the CBI requiring a majority of votes cast in favour of a resolution the CBI's ability to deliver a new mandate.
On Wednesday, it will publish a prospectus ahead of its June 6 EGM which will set out the governance changes made by the organisation and the vision for its future of Rain Newton-Smith, its new director-general.Her blueprint is expected to comprise a slimmed-down organisation which will put some of its employees at risk of redundancy.
In April, the UK's biggest business group suspended most of its activities pending the outcome of a root-and-branch review.
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