Just a quick note to say a big thank you to all the staff at KSA, our CVA was passed today by creditors voting in an overwhelming number including HMRC to accept the proposal as prepared by KSA.
The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders.
Manufacturing and Engineering Insolvency Case Studies
Every business is different, however there are particular issues that manufacturers face which are unique to the sector.
Trading conditions can be difficult and there is often tough competition. Problems include:
- Profit margins
- Foreign price wars
- Sales targets
- Difficult market conditions resulting in low pricing
- Unusual working shift patterns
- Tough competition from the UK and overseas
- Quality versus price
- Tier one or two suppliers exerting price pressure downwards
- Lack of skilled engineers
- Factories not working to capacity
As turnaround practitioners, our specialists can help tackle these issues with you to get your manufacturing or engineering business back on track. We can go through all the available options, like expert assessment of the issues your company faces, improved financial reporting, Time to Pay deals, CVAs and pre-pack administrations.
We have many years of experience turning around manufacturing and engineering companies, why not give us a call and see how we can help?
KSA recently saw a group of engineering companies in the southwest which was facing winding up actions by HMRC for non payment of tax debts. We organised removal of most of the secured debt, met with the secured banks, found alternative funding offers of £3m (exiting banks decided to continue to work with the companies, though) and led a complex restructure. We met the main CUSTOMERS and SUPPLIERS and showed these stakeholders turnaround plans.
The companies entered CVAs in 2014 (see full details in case studies page below).
Call us on 0800 9700539 for free expert advice and a talk through your options. We can visit you onsite to discuss your specific situation.
The director of the company contacted Keith Steven, Managing Director of KSA to...
The director of an engineering company contacted Marie Moody of KSA to discuss...
This manufacturing company had grown from £3m to £12m in sales in a relatively...
This company was incorporated in 1997 and trades from its premises in the west...