I just wanted to drop you a quick line as we start the fifth and final year of our CVA. I can’t believe just how quickly the time has gone, which is clearly a sign of old age or we are enjoying the business again. We have had some good years in 2010,11, 12 and 2013, always making the CVA payments and the Bank Loan as well.
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,
I just wanted to write to you to say a sincere thanks for the work that you have done for us. Without doubt, we would have gone bust if it wasn’t for your advice, actions, guidance and experience. As a result of the CVA being approved we now can continue to trade in a new form of business.
Your help has ensured the continued employment of 16 people, whom should all be very grateful to you.
We still have the actual hive down to do, which is being discussed internally and with the bank at the moment, but there is definitely a strong sense that the whole process is coming to a close.
The good news is that January and February look to be fairly high profit months for us – a real return to form which was seriously lacking last year. I think this has something to do with the fact that I’m back earning again rather than ‘rescuing’ the business, but mainly because of a general surge in our client base spending money. We hope we can keep this up, but now know that with our tight costs control and reduction in fixed costs it’s not a major issue any more if work just ‘dribbles’ in the door. Either way, our business model is very different but much more robust and will remain that way.
So from ******, thanks for all your hard work and for ultimately saving our business.
I have worked with Keith on a number of CVA cases during the past few years. Keith works with the client's best interest at the fore - he is extremely knowledgable and his expertise and success rate in turn around situations is without question. Keith has the support of a very skilled and professional team who have enjoyed a very high success rate with CVAs. I have enjoyed first hand experience of a company being rescued at the '11th' hour by Keith and his team to offer them the opportunity to survive and ultimately prosper.”