Read accountingweb.co.uk's review of the CVA versus Pre Pack debate on the 8th May. There is already a lively debate on the page itself!
In essence, as we said before, it is very much "horses for courses" and CVAs and the Pre Packs have their place. Both are powerful rescue techniques that save jobs and keep businesses trading. Yes, Pre packs have been abused in the past and are sometimes perhaps pushed where a CVA would have been a fairer deal for all concerned. Also there is always a perception of pre packs by creditors that a deal has been done behind their backs and people who lose money will often feel they have been treated unfairly.
The most important thing to do is make sure that a professional firm is appointed to advise on ALL the options.
If you want to talk about rescuing your business through either a pre pack or a CVA then call us on 0800 9700539