What is a CVA? | Company Voluntary Arrangements Explained
What is a CVA? | Company Voluntary Arrangements ExplainedHelping directors online for over 23 years.
Keith is the author of the content on this comprehensive rescue, turnaround and insolvency website. He is the managing director of KSA Group Ltd – a specialist firm of turnaround and licensed insolvency practitioners. Keith was nominated for Turnaround Practitioner of the Year 2014 at the National Insolvency and Rescue Awards in 2014.
Keith is a former director of the UK Turnaround Management Association. Founder and managing director of Cheswick Capital Limited, Company Funding Options Limited and other turnaround businesses.
Keith was the original inventor, founder and original author of the content on this site www.companyrescue.co.uk which is owned and managed by KSA. Keith has been featured in Mike Southon’s column in the Financial Times and his book – This is How Yoodoo on entrepreneurs.
More than 10,000 people have contacted KSA Group since Keith launched this unique website in 2000 and over 700 companies have now been directly assisted by the author over the last 24 years with assignments ranging from large multi-national projects to small manufacturing companies, to simple advice over the phone.
For example, Keith ran a £500m a subsea engineering group in a trading administration for the administrators which led to an innovative CVA rescue in 2004 with a pension fund rescue of £300m, That world class company survives with sales over £180m or so now. Keith also works with much smaller businesses usually with sales of £1m sales upwards. Recent CVA cases led by Keith include 3 UK law firms saving over 210 jobs in 2023, a £7m SAAS company, hi tech companies backed by venture capital, two brewery companies, digital marketing groups, recruitment groups and transport companies. Keith recently successfully concluded the rescue of a chain of 25 retail stores in Southern England where 20 landlords agreed rent variations to support our clients recovery using a leading edge CVA proposal.
Keith started his career in retailing and after the recession of 1991 he joined a specialist turnaround firm in London in 1994 and has helped set up two venture capital companies since, specialising in the distressed / turnaround sector. Since then he has focused on driving the delivery of free information to distressed business people and promoting the use of CVAs, innovative administrations and informal turnarounds.
There isn’t much he hasn’t seen, he is an entrepreneur and vastly experienced in turning around companies. Talk to Keith directly if you want. Often seeing rescue strategies that directors, investors and banks miss, he can work with your company to set out plans for recovery. Start talking to us soon at KSA, because your options can and will diminish as any crisis grows.
See his Linkedin Profile for recommendations and further information.
What is a CVA? | Company Voluntary Arrangements Explained
What is a CVA? | Company Voluntary Arrangements Explained
Pre Pack Administration Process and Procedures
Pre Pack Administration Process and Procedures
Worried Director What Will Happen To Me After Liquidation?
Worried Director What Will Happen To Me After Liquidation?
Notice of Intention To Appoint Administrators
Notice of Intention To Appoint Administrators
What Is A Winding Up Petition By HMRC or Other Creditor
What Is A Winding Up Petition By HMRC or Other Creditor
What Does Going Into Administration Mean?
What Does Going Into Administration Mean?What is a Winding Up Order?
A winding up order is an order by the court that a company or partnership should be “wound up” and liquidated. This is usually known as compulsory liquidation.
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Birch Hotel Properties Go Into Administration With Cheshunt Site Closing Immediately
Birch, the lifestyle membership club which has sites in Cheshunt (Hertfordshire) and Seldson (South Croydon), has placed both hotel properties into administration. This has been due to cashflow difficulties and the inability to reinvest in the properties. Birch Cheshunt Birch's 140-room Cheshunt hotel opened in 2020 with backing from Aprirose. Prior to this, the site was known as De Vere Theobalds Estate Hotel.Administrators from Teneo closed the hotel with immediate effect and announced the closure on the properties website.This property has a bakery, fitness studio, screening rooms, 20 event spaces, three bars, a farm and two restaurants led by chef Robin Gill, to its grounds.Since its opening the co-founders of Birch, Chris Penn and Chris King, had left the business.Employees of Birch Cheshunt in particular have taken to social media to share of their shock and distress. They are seeking help with finding work after being made unemployed overnight. If you are an employee of any of these properties in administration, please see our advice guide. Birch Selsdon For Birch Selsdon, the 181-room hotel is still trading but under the control of administrators from the appointed, Moorfields Advisory.Milan Vuceljic, partner at Moorfields, said: "The Birch hotel group had a unique market proposition, which fitted with today's health and wellbeing culture whilst still boasting a Greater London location. We are currently continuing to trade the hotel whilst we explore various options, which we believe provides a good opportunity for potential purchasers."This property has two restaurants ran by chef Lee Westcott along with a pottery studio, wellness space, reading room, arcade and interactive kitchen to its grounds.Ayo Akinsete is the managing director who saw the opening of this site and is now a part of the senior management team newly appointed to oversee both sites. Company Rescues take: ''The first three years of a new business are always the most difficult. The collapse of Birch is not unusual at this stage particularly in the hospitality sector. With so many potential influencing factors, it comes no surprise. The cost of living means less people able to afford going out, especially to higher end luxury locations, such as these.''
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Dot Dot Loans Goes Into Administration
Dot Dot Loans owner the Morses Club and Shelby Finance has gone into administration with the loss of 101 jobs. 272 staff remain across the two firms whilst the administrators look for a rescue or sale.Ed Boyle and Rob Spence from Interpath Advisory have been appointed as joint administrators.The companies have been under financial stress since the Morses Club is now facing lots of customer redress claims for offering them unaffordable loans.In May 2023, the Morses Club entered into a Scheme of Arrangement which is a system of restructuring used for complex financial companies and trusts and is administered by lawyers.The administrators said; “However, despite management’s best efforts, Morses Club has been unable to complete the refinancing of its existing debt facilities and therefore, the directors took the decision to appoint administrators to the businesses.As a result of the insolvency of Morses Club, the scheme automatically terminates early – further information regarding the impact on customers who submitted a claim in the scheme is available on its website”Shortly prior to the appointment of the joint administrators, all new lending ceased, but the companies continue to collect outstanding loans from customers.Administrators said it was "important that customers continue to make payments on outstanding loans as they fall due, as not doing so is likely to impact their credit rating/profile and their ability to borrow".The joint administrators will be working with the employees affected by redundancy over the coming days to provide them with support.
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