
My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?The director of a construction company contacted Sarah Massey of KSA to discuss the company’s present financial situation. Then, after a subsequent telephone conversation with KSA regional manager, Gary Weber, a meeting was requested and held at the director’s home.
KSA was appointed to assist the company with a Company Voluntary Arrangement (CVA) in August 2017. Turnover for the 2017 trading year, was c£215K.
The nominee’s review was held and the CVA and nominee’s report were subsequently lodged at court. The CVA proposed 58p in £1 repayment to unsecured creditors over five years.
HMRC provided their response accepting the CVA with modifications (conditions of acceptance). The CVA was accepted by the body of creditors at the creditors meeting and the company is now in CVA.
My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?