
My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?The director of a haulage company contacted Keith Steven of KSA to discuss the company’s present financial situation. After the initial telephone conversation a meeting was requested and held at the company’s premises in October 2010.
KSA were appointed to assist the company with a Company Voluntary Arrangement (CVA) on 28th October 2010. Turnover for the year to March 2010 was c£1.25m (a fall of £250K on previous year).
Unfortunately, in early 2011 the director realised that the company was no longer viable due in some part to a small number of creditors holding a ransom. In order to make no creditor’s position any worse the director approached KSA to now place the company into CVL (Creditors Voluntary Liquidation).
My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?