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This February I did ask Eric Walls if we could extend the CVA payment period to eighteen months for Year 5 which he agreed to which has helped a lot with the cash flow, so now only 12 payments to go. The company is now very different, staff levels are reduced down to seven and we moved to offices in Andover, so a much reduced turnover but a significant surplus.
We still have a bit to go, but I would say the concept of a CVA has allowed us to continue in business, the relationship with those creditors who we still deal with has been good.
So my thanks again for your wonderful guidance in the three months leading to the official CVA starting in July 2009, we were at a very scary place emotionally having endured about a year of things going from bad to worse , so I am so grateful for your wonderful support and the KSA team. Hugh Gabriel, who was our first point of contact spent a couple of hours going through all the options in a clear concise way, which then allowed us to make the right decision.
I hope you have a wonderful Christmas and New Year,