The directors of the company approached KSA Group after reading our website www.companyrescue.co.uk as their business was under distress. Turnover to 30th April 2012 was £1.1m which was a fall of £122k compared with the previous year, gross profit fell proportionally.
The company also encountered financial difficulties due to:
- A combination of historic bad debt write-offs
- Increased client price sensitivity
- The economic downturn
- Poor management practices.
- HMRC levied distraint against company assets (Walking Possession) for an unpaid VAT liability
Read our case studies below to see how we saved other businesses like this;