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Wednesday, 24 October 2012

Electrical services company issued with winding up petition but survives using a CVA

An electrical services contractor, working in the industrial and commercial building and construction sector based in Kent saved by a Company Voluntary Arrangement.

The director contacted KSA Group  after reading the website.  A meeting was held between the director and KSA Group regional manager on 6th August 2012.

KSA Group were appointed to assist the company on 10th August 2012. The company encountered financial difficulties because of considerable sums owed by two main contractors. The company was owed c£85k in certified payments and some of the debtor days exceeded 16 months. The director had cut costs prior to KSA Group's appointment via one redundancy. However, a winding up petition was issued by one of the trade creditors.

Find out what happened by reading our CVA case study

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