This company had a bad debt and two cancelled contracts that led to a cashflow crisis. The MD called us and asked what if anything could be done as things were desperate.
Keith met with him two days later and saw a historically profitable and successful company brought to its knees by events beyond its control, that did not mean it was a bad company. We recommenced that there was a change in management and that the MD should become chairman as he had other projects on the go outside the company. A new MD was recruited from the industry and he had energy and drive aplenty. Despite some annoyed creditors complaining that the MD had "promised to pay us" we got the CVA through with only one or two small votes against.
In all our CVAs cases we assess whether the management are capable and determined enough; so we can help them drive a rescue and turnaround.
Now the company is ahead of its projections and has progressed well. I think the MD's thank you email says a lot more than we can.....
Sent: 04 October 2007 07:09
To: Keith Steven; Philippa Allan; Iain Campbell
Subject: A GREAT BIG THANK YOU....
Hi everyone at KSA,
This is just to say a GREAT BIG THANK YOU for all your hard work and dedication in getting the CVA through for all of us and the creditors of **** Ltd.
I can't put into words how much this means to me and the team. We are all delighted and now feel that we can truly focus on getting back to work with supreme confidence for the future.
The service you provide is invaluable and so worthwhile. You should all sleep very well at nights, with the certain knowledge that you are helping so many people at a time of crisis.
I really don't know what I would have done if Keith hadn't come to see me that day and spent the 3 and a half hours with me that helped to change the fortunes of the company.
You all really deserve the e-mail address of companyrescue as that truly is what you do.
Many many many thanks again from a truly grateful Trevor.
PS. Whenever I can help you with a letter of recommendation or anything to help at all. Just get in touch please.
THINK THIS INNOVATIVE TURNAROUND APPROACH COULD BE A USEFUL TOOL TO HELP YOU? THEN YOU NEED TO TALK TO US NOW.
CALL 0800 9700 539 AND ASK FOR KEITH STEVEN.