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Tuesday, 20 May 2008

Crisis what Crisis?

In the current "credit crunch" environment is easy to say that everyone in retail or property market is suffering but, thats not just what we are witnessing. Currently, we ARE working with retailers and estate agents BUT we are also working with the following clients:

  • Printing and print finishing

  • Automotive consultancy

  • Bio fuels company

  • Publishing

  • Software companies (2)

  • Computer hardware and software (large business clients)

  • Community Interest Company (enabling unemployed to return to work)

  • Building and Bricklaying companies (3)

  • Sandwich manufacturer

  • Accountancy practice for pubs

  • Motor dealers and service (2)

  • Water coolers and distributors

  • Recruitment company

  • Electrical & Mechanical Service Solutions

  • TV post production

  • Window and conservatory manufacturing

  • Retail/distribution hobbies and models

Right now KSA is advising 25 live company voluntary arrangement (CVA) clients, an all time record for us and we are seeing pain across many sectors. I suppose that if you analyse the list above they do have a common theme. They do tend to be consumer / customer facing and this, I fear, is a sign of things to come in the UK over the next 18 month. Rising food and fuel prices, higher taxes, rising mortgage costs all against a backdrop of modestly rising incomes, means a tightening of the consumer purse.

Will the froth be blown off the economy and growth slow to under 1.5%, or will we see a recession? Its too early to say but growth is slowing rapidly and we are seeing a commensurate rise in demand for CVA's. Want a quick idea of how a CVA works? Click here for our FREE unique CVA flowchart

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