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Friday, 14 June 2013

Software Business exits CVA early

Southern Based Website & Software Design company

The company accountant contacted KSA Group as he was concerned that the business was in serious financial difficulty and a meeting was held at the company’s premises. KSA was appointed to assist the company

The company encountered compounding financial difficulties due to;

  • Lower than forecast sales
  • High overheads
  • A substantial investment in a  new CRM programme that was not quite market ready
  • A small number of bad debts from insolvent clients and 
  • Incomplete projects.

What was the situation with the creditors?

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