Liquidation Case Study North East Recruitment Company

20 February 2012

Did you know the recruitment sector has the highest percentage of business failures of any business sector in the UK?

Again a recruitment group approached us via this website and asked for immediate assistance, always good when people act quickly in our view!

A group of three companies had lost a major contract with a multi-national accounting firm. Sales fell from £4.5m to £2.5m overnight. The board hung on to staff and fixed costs thinking they would either win the work back or replace it. Neither happened of course but the directors simply did not know what powerful company restructure mechanisms were available.

The group is now reduced to one much smaller company using a CVA to control the deal. Two companies were liquidated one rescued with CVA.

Key case achievements by KSA Group

• Prevented winding up by HMRC for unpaid PAYE of around £230,000 in viable company
• Reduced headcount by 10 full time staff and over 40 temps.
• Carefully modelled business over 5 year period
• Drove two failed companies into liquidation
• Helped negotiate exit from two unwanted office properties.
• Replaced factoring deal to provide higher initial payments

So the moral of the case study is get help from experts now, we'll come up with solutions that you didn't know were possible!

Keith Steven, the MD, has written for the Recruiter Magazine - Read the article Serious Cashflow Problem? - All is not Lost!

Think liquidation will solve your problems or do you think the company needs a CVA? Well in order to find out use this site and then call 01289 309431 or 0800 9700 530 NOW, we'll help you solve the problems.

Categories: Liquidation

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