What Is A Winding Up Petition By HMRC or Other Creditor
What Is A Winding Up Petition By HMRC or Other CreditorLicensed Insolvency Practitioners With National Coverage
KSA Group rescues and helps management turn around £18m UK pharmaceutical manufacturing business with powerful Company Voluntary Arrangements deal.
Chairman Mr X said “Hi Keith and team, I would like to record my sincere thanks to you and your team for the great advice, guidance and support you’ve brought to ***** Limited since January 2024. Getting through this nightmarish scenario would not have been possible without that expertise and the huge ability that you guys have brought to bear.
Now we are through the painful process safely, we need to focus strongly on the future success of the business”!
This was a complex case for the KSA team, but with innovative use of the powerful CVA tool for both parent and trading subsidiary, we have led the restructuring of this group which needed to exit a failed expansion project. This threatened huge contractual costs and financial obligations, after a massive construction price hike. The project costs nearly doubled after Covid and world supply side issues, clearly no longer commercially viable.
The total cost savings per annum are £2.7m, but sales will rise due to the launch of new innovative products, which will drive gross margins too. Forecast net profit in year one of £757k, sales of £18.13m will represent a good recovery from large losses made in 22 and 23. HMRC will be repaid in full over 4 years and unsecured creditors up to 16p in £1.
Like to learn how KSA Group can help you, your client or investee? Want to learn how a CVA can reduced fixed and overhead costs, as well as reduce debt?
If you CAN see a way to reduce costs, you CAN see a way ahead, you DO have a great product / service, but debts and future cost commitments are sinking the business – then you should bring in the Company Rescue experts.
Call the KSA Group turnaround team on 0800 9700539 or email Keith Steven on keiths@ksagroup.co.uk
Visit our website www.companyrescue.co.uk
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