Wednesday, 27 May 2009
Struggling Birmingham or West Midlands Business?
Want fast, accurate, understandable information and to meet someone in Birmingham free of charge?
KSA CompanyRescue is a national firm of turnaround and insolvency experts who can help your Birmingham company today. Whether you need to rescue the business with a company voluntary arrangement, liquidate the company, use a pre-pack administration or raise finance, we can help.
Gordon Boden (l), Russell Mallen (r) and Keith Steven are on hand to assist all West Midlands companies, partnerships, LLP's or soletraders with turnaround and insolvency advice, from our Sutton Coldfield offices.
End those sleepless nights, call for advice now, we will lift the pressure.
Whether you need to rescue the business with a Birmingham company voluntary arrangement, or liquidation for a Birmingham company, or you need a Birmingham pre-pack administration, Birmingham receivership or even raise finance, we can help.
This web site is linked to the much larger, national website http://www.companyrescue.co.uk/ and it is not the intention to provide the highly details content here that that site has. Indeed our parent site has over 500 pages of detailed, quality information in plain English -what's more its FREE and easy to use.
If you would like professional advice on your company's problems please use our free number 0800 9700539 or call 0121 378 0671. Alternatively you can send an email to us on firstname.lastname@example.org.
Once we have established whether we can assist you, we are happy to meet any Birmingham or West Midlands business free of charge for a detailed assessment meeting with the board.
This is then followed by a detailed written report on the options available to your company, there is no charge for this report. All we ask is that you provide accounts.
This meeting is usually best held at your premises, so we can understand your business, but if you prefer we are happy to meet you at our offices in Sutton Coldfield, there is NO CHARGE.
KSA are licensed insolvency practitioners (IP's) and our IP's are licensed by the Insolvency Practitioners Association. We have over 20 advisors ready to help you now.
Why not call now and ask for Russell Mallen or Gordon Boden?
KSA Group Ltd
1 Reddicap Trading Estate,
Telephone: 0121 3780761
Facsimile: 01289 309 429
Tuesday, 26 May 2009
This latest diktat is really the final straw for me. What credibility is left for those in power when some idiot says we have to stop serving lamb because they burp! What next Government advisors to ban milk because cows fart huge amounts of methane?
Do we really (as the tax payer) employ these numpties as quango's, consultants or advisors. Oh yes of course we do, I forgot, that this Government cannot afford time to make any decisions (too busy claiming expenses), so they pay people to "review", examine or help make decisions.
Can you believe that these people have jobs with index linked salaries and Government pensions ? To do what stop eating donner kebabs to make a policy statement?
Thursday, 21 May 2009
Seems that Clinton Cards does have serious problems putting its 223 store chain Birthdays into administration today.
Guess the directors might send a get well soon card?
Seriously though who would buy this chain losing £7m per annum, 323 high street, high rent stores? One has to question why it was put into trading administration.
For a guide see this page
Going into administration
Monday, 18 May 2009
A very interesting Case Study on many levels Click here for the full text.
Many private equity, hedge fund or venture capital backed companies could benefit from this innovative company voluntary arrangement approach
The CEO of Futuremedia plc has kindly written this about KSA and yours truly on Linkedin:
May 14, 2009
Dear Keith,I've written this recommendation of your work to share with other LinkedIn users.Details of the Recommendation: "Keith and his team did a fantastic job getting our company with a very complex financial situation (connected CVA's, secured creditors, unsettled litigation, public company) approved for a CVA with 100% favourable vote from our unsecured creditors and 93% vote from Shareholders. Very impressive result, outstanding knowledge of the process (industry expert) and extremely creative solutions to get the connected CVA's approved. Highly recommend Keith and his firm Company Rescue (KSA) to help with you company's financial issues." Service Category: Business ConsultantYear first hired: 2008Top Qualities: Great Results, Expert, Creative
Wednesday, 13 May 2009
KSA Group is delighted to announce that Eric Walls of Marlor Walls has joined KSA Group as Turnaround and Insolvency Director from 1st May 2009. Eric and his team will now be able to provide high quality insolvency advice to our clients across the UK.
KSA Group can now offer a full range of liquidation and administration advice to our clients as well as our famous turnaround and CompanyRescue company voluntary arrangement expertise, from three KSA offices across the UK. This is supported by www.companyrescue.co.uk the biggest online source of help and support for troubled businesses.
Eric’s insolvency team will be based in Gateshead and London. Keith Steven will continue to be based in Tower 42 offices in London. KSA’s head office will remain at Berwick. Alan Marlor will also join KSA Group as a consultant providing his decades of insolvency experience to the KSA team and its clients, on a part time basis.
Keith Steven, managing director of KSA Group said, I am delighted to welcome Eric, Alan and their team to KSA. Being able to offer in house insolvency advice is something we have planned for some time. Our ethos is always going to be “CompanyRescue” but there are times when businesses are simply not viable and cannot be turned around.
We can now quickly and professionally liquidate insolvent companies and restructure very distressed businesses through administration and CVA’s. Pre-pack administrations have recently attracted adverse publicity and are currently in the regulatory spotlight, but innovative CVA’s can be used in many such situations.
We are recruiting additional insolvency practitioners and hope to announce a further appointment in the next few weeks.
KSA is passionate about rescuing viable businesses but also offering the right advice to worried directors and creditors. We will continue to build our online business support service at www.companyrescue.co.uk and publish more valuable plain English guides free of charge in this recession period.
Too many viable companies will fail in this recession and KSA Group is determined to help as many people as possible with rescue, turnaround and insolvency advice.
Tuesday, 12 May 2009
CVA's - even Alistair Darling likes them and wants to see more, announces more policing of Pre-pack Administrations
Darlings report contains these interesting sections:
The Government will work to ensure that the regulations and procedures for dealing
with troubled companies work to facilitate company rescues whenever they are appropriate,
that the maximum economic value is rescued from companies that get into difficulties, and
that the knock-on effects of company insolvencies on their creditors are minimised. Budget
2009 announces that the Insolvency Service will consult on:
Providing for new funding lent to companies in Company Voluntary
Arrangement (CVA) or administration to have absolute priority status, to
allow firms in difficulties to access the funding they need to get back on track;
Extending the moratorium on creditor action against small companies trying
to agree a Company Voluntary Arrangement to medium and large companies,
so giving them breathing space to try to reach agreement with creditors.
The first is designed to allow "Debtor in possession" type funding for companies in CVA, this is new to the UK he thinks. Well I am not so sure, I was a director of a company that specilasied in funding for CVA's back in 1999. However any rules changes that provide for funding into CVA rescues we are all for. Will it allow new money to haircut old? If so not much new there apart from perhaps power to force dilution such as debtor in possession in the USA.
Secondly the use of the CVA moratorium has very limited indeed, because the risk to the nominee has been deemed to be too great, we will recommend to the Service that the risk element of the moratorium be relaxed to allow greater uptake. Personally speaking the moratorium for CVA's could be very powerful to protect companies from aggressive creditors during the difficult period pre CVA approval.
Graham Horne has issued a press release from the Insolvency Service as below;
"However we want to consult on whether some targeted changes to corporate insolvency law could improve the rescue culture even further, thus saving jobs and providing better returns to creditors.
The Chancellor of the Exchequer announced today during the Budget speech that The Insolvency Service will start a consultation exercise in June. This will propose changes aimed at giving struggling large and medium sized companies a breathing space while they seek to reach legally binding agreements with their creditors, without first having to place their companies into administration.
Small companies facing financial difficulty are currently able to obtain a moratorium on creditor action while seeking agreement with their creditors to deal with their debts. While an agreement is being pursued, the existing management stays in place. The proposals would give viable large and medium sized companies the same opportunity for a moratorium while trying to come to an agreement with creditors.
The Insolvency Service will also consult on changes that would help give all companies access to additional funds to get back on their feet. Under the proposals new money lent to companies in Company Voluntary Arrangements or administration would be given priority. This could make it more attractive to lend to such companies allowing them to access extra funding when they need it most.
The overall aim of these proposed measures is to ensure that company rescues are encouraged to take place whenever they are appropriate and that the knock-on effects of company insolvencies on their creditors are minimised.
The Chancellor also announced that The Insolvency Service will be publishing this summer the first of a series of regular reports on its monitoring of the operation of pre-pack sales. The Statement of Insolvency Practice 16 issued earlier this year requires administrators to provide creditors with detailed reports explaining their decisions for a pre-pack administration as soon as they are appointed. Scrutiny of these reports by The Insolvency Service is designed to ensure that creditors are not being treated unfairly through the abuse of pre-pack sales".
So the good news is Government wants to encourage more company voluntary arrangements better funding for CVA's and is likely to look carefully at abuse in pre-pack administrations, perhaps CVA will become the rescue method choice for more practitioners and struggling companies?
Monday, 11 May 2009
company voluntary arrangement for a London company
Administration and pre-pack for a London company or
Liquidation for a London company
Then visit www.companyrescuelondon.co.uk this is a dedicated site for London based businesses who may want very quick advice and it is linked to our highly successful www.companyrescue.co.uk site.
Our London office is based in Tower 42, Old Broad Street, quite near Liverpool Street station and Bank tube. If you would like to arrange a meeting with me, Keith Steven, who runs our London office, please call 020 78770050 or email email@example.com or call Keith on 07974 086779.
Alternatively, we can arrange a meeting at your premises or your client's premises please let us know which you prefer. There is no charge for an initial strategic meeting which is always followed up by a written recommendation / solutions report.
Give us a call, visit the new website and you may find we can solve your company's problems very rapidly.