Having done over 500 CVAs over the 20 years, we understand the emotional rollercoaster that directors of companies can often experience when faced with insolvency and using a company voluntary arrangement to dig themselves out of the hole. Whether you are on the board of a large business with thousands of employees or run 5 restaurants employing 100 people the actual situation is exactly the same and the creditor profiles will be similar - Banks, HMRC, shareholder loans, Alternative finance, suppliers, mission critical suppliers and landlords. As such, we are offering a service to boards of larger firms that are already going down the route of a CVA.
Common worries that occur are
- What do we tell our customers?
- Will suppliers keep supplying
- Bank accounts
- Aggressive creditors
- What about deposits?
- Affect on other parts of the business
- Property issues
- Employee engagement
- Public relations
- Personal guarantees regarding directors
What we can do
- Explain the process in layman’s terms so you can engage constructively with your current advisors.
- Help you prepare questions to ask your advisors.
- Set out possible answers, outcomes for you to be aware of.
- Give views on some questions you may have about your specific situation but we will be mindful that you should act on your principal advisers advice.
- We can be a sympathetic ear to your worries and help and support you.
- We will be strictly impartial and will not push any different route/strategy. We may not have the resource to help a company like Pizza Hut for instance but we know the process as well as anyone.
How does it work?
Our directors Keith Steven, Eric Walls or Wayne Harrison can join a board meeting ( via Zoom/teams/etc if necessary) and answer questions. We charge just £500 + VAT to attend a board meeting. If you need further advice then details on application.
If you want to talk to us then please email Keith Steven direct at keiths@ksagroup.co.uk for further details. References available on request.
Below we have some answers to questions that many directors ask.
The Author
Author of this page is Keith Steven who is the Managing Director of KSA Group Insolvency Practitioners
