This company provided home services particularly to people moving house. A dispute with former directors had led to the MD losing focus and spending money on legal actions to beat the ex employee.
Then the company lost its way and could not pay PAYE. Arrears built up over a year to around £75,000 and the Revenue sent in bailiffs after refusing a time to pay deal.
We helped the MD refocus, build a new platform for growth and attract new private equity on the back of a CVA. Sales are now £3m and growing fast.
This is down largely to very strong management after the CVA by the MD and his operations director as much as new capital and the CVA.
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.
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.