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Friday, 13 January 2012

KSA Group is top flight CVA advisory firm

In a study of all the CVAs filed in 2011 KSA Group were the supervisors on 6.5% of the total number.  Given that this market includes all the major firms such as KPMG this is a very good performance.

Obviously, the total number does not give the whole picture in that some CVAs are for small companies and some for very large.  KSA Group has proposed CVAs for companies with turnovers ranging from £300k to £15m.  KPMG got the two biggest appointments, Blacks Leisure and JJB Sports.  But many of the other firms hardly feature at all in the statistics.  Is this because rescue is not seen as the first option or is perceived as not likely to work?

Many insolvency practitioners do not mention a CVA to their clients as they don't like the idea of the directors being in control of the business that is in difficulty.  However, if the directors can stop creditor pressure and get on with running the business then it can succeed.  JJB Sports is still continuing despite the economic slowdown.

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