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.
Recruitment Insolvency Case Studies
Every business is different, however there are particular issues that recruitment companies face that are unique to the sector.
- Hiring bans by larger clients
- Online competition
- Overdrawn directors accounts
- Slow payments by debtors
- Falling revenues
- Difficulty to lower costs to match demand
- Large debtor books through factoring companies
- Preservation of quality recruitment advisors
The good news is there is usually no trading stock involved in recruitment and it is usually straight-forward. Assets mainly consist of office equipment, like computers, phones and desks.
People will always need jobs so the industry will never disappear. The main concerns are beating the competition and employing expert recruitment advisors to keep the business a success.
As turnaround practitioners, our specialists can help tackle these issues with you to get your recruitment 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.
Why not download our free 50 page guide on how to rescue your recruitment business! Download here
The guide covers
- Is my recruitment company insolvent?
- How can a pub get a time to pay deal with HMRC for PAYE and VAT?
- What is a Company Voluntary Arrangement and why is it a great rescue tool
- How to cut costs in your business
- How to deal with a winding up petition from HMRC.
Why not call Keith Steven on 07974 086779 now? Call us on 0800 9700539 or fill in our enquiry form for free expert advice on a specific situation.
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