
My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?The director of the recruitment company was introduced to KSA and initially contacted Keith Steven Managing Director of KSA to discuss the company’s present financial situation. Then, after a subsequent telephone conversation a meeting was requested and held near the company’s premises.
KSA was appointed to assist the company with a Company Voluntary Arrangement (CVA) in June 2009. Turnover for the 2008 trading year was c£1.1m.
Employees:
The nominee’s review was held and the CVA and nominee’s report were subsequently lodged at court The CVA proposed 34p in £1 repayment to unsecured creditors over 5 years. However HMRC’s acceptance with modifications stipulated increased contribution which increased this to 50p in £1. The CVA was therefore approved at the creditors meeting in January 2010.
My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?