Please visit http://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Friday, 18 July 2014

Our blog has moved!

We have now moved our Company Rescue Blog and incorporated it into our website.  You can see it at www.companyrescue.co.uk/blog.  


This will enable us to include relevant blog posts into specific pages of the site and keep everything under one roof.

Our Blog is to inform the business world what fantastic tools KSA Group can provide for restructuring viable companies. Our experts use CVA's, CVA and hive downs, pre-pack administrations and liquidation to restructure companies. Occasionally, we will announce insolvency notices, blog some anecdotes, opinions, comments on the industry, funny stories and actual KSA Group case studies. We welcome your contributions, comments as usual.

Friday, 11 July 2014

KSA Group Insolvency Notice

51 Surf Limited Creditors Voluntary Liquidation Notice

Meeting of the Creditors of the above named Company will be held at The Offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 25 July 2014 at 12:15 pm.

See full notice below:
http://www.companyrescue.co.uk/insolvency-notices/51-surf-limited-creditors-liquidation-notice

Thursday, 10 July 2014

Two administration case studies - printing and manufacturing sectors

We have now reached just over 100 case studies!

Our latest two involve the administration procedure. The first case looks at a manufacturing company that suffered from financial loss and was in need of restructuring. It was first agreed a Time to Pay deal (TTP) would be the best solution, however under difficult circumstances, it was eventually decided to put the company into administration to be sold via a pre-pack deal. Read more on this case study here: http://www.companyrescue.co.uk/case-study/pre-pack-administration-case-study-manufacturing-company

The second case study looks at a printing company that was put into administration due to the loss of a major contract. However, because of a heavy balance sheet (among other things), it was difficult to find an interested buyer. Therefore the decision was taken to break up and sell off the business assets. Find out more here: http://www.companyrescue.co.uk/case-study/administration-case-study-printer-company

Friday, 4 July 2014

Carrnell Transport Liquidation Notice

A meeting of the Creditors of the above named Company will be held at The Holiday Inn, Rugby / Northampton M1 J18, Crick, Northampton, NN6 7XR on 23 July 2014 at 11:45 am for the purposes mentioned in Section 99 to 101 of the said Act.





Wednesday, 2 July 2014

Two CVA case studies: Locksmith and Construction company

See below for our two new CVA case studies:
http://www.companyrescue.co.uk/case-study/cva-case-study-scottish-based-locksmiths
http://www.companyrescue.co.uk/case-study/cva-case-study-bristol-based-company-in-construction-sector

The first case involves a locksmith company that suffered with cashflow due to the recession. After cutting costs throughout the business, it was still necessary to go into a CVA to ensure the company could continue trading.

The second case looks at a company in the construction sector which faced financial difficulty due to poor accounting and undercapitalisation. Many issues were recified, however there was still an outstanding debt problem which led to HMRC taking walking possession.

KSA Group shortlisted for Insolvency and Rescue Award!

We are delighted to announce that KSA Group has been selected as a finalist for this year's Insolvency and Rescue Awards, due to be held on the 1st October at Lancaster London Hotel.

KSA Group has been shortlisted for Corporate Recovery Firm of the Year in the 'up to 10 licensed appointment taking Insolvency Practitioners' category.

We look forward to the Awards Ceremony and wish all those who have been shortlisted (in the other categories - ha ha) the best of luck!

Latest rescue case study - hair salon company

Our latest Company Voluntary Arrangement (CVA) case study involves a boutique hair salon that suffered financially due to a lack of focus and overstocking of products. Business advisors for the company contacted KSA, on behalf of the director.

See our case study page for more information:
http://www.companyrescue.co.uk/case-study/cva-case-study-southern-england-based-hair-salon-company



Tuesday, 1 July 2014

La Senza in administration again!

Lingerie chain, La Senza, has fallen into administration again, putting 752 jobs at risk. PwC have been appointed administrators and are looking for potential buyers for the business.

The company went into administration at the end of 2011 and has since been trying to turn itself around after it was bought by retail business, Alshaya.

For more on this story, see our news page: La Senza in administration for the second time.

If you are an employee of the business and you're worried about the future, watch our video on employee rights in insolvency:




Company insolvencies continue to fall

According to the latest Exaro Insolvency Index figures, there were 2,477 companies in administration or receivership in May compared to 2,542 the same time last year (a fall of 2.6%).

Administrations have continued to fall since April, which saw company failures decline by 2.8% compared to the same month in 2013. These latest figures suggest a 'post-recession phase', according to Giles Frampton, president of business recovery association, R3.

Due to low interest rates and perhaps more informal deals with creditors, the number of administrations hasn't increased for a few months. This indicates a new stage of the recovering economy, like Frampton suggests.

There should be a warning however to those companies replying on low interest rates to continue trading. With interest rates to rise in the near future, more businesses will start to struggle and it's expected the number of insolvencies will rise alongside increasing interest rates.

The Index report shows the number of liquidations and winding up petitions have actually increased by more than 100 cases each in May since the same time last year. This suggests HMRC and creditors are putting down tougher charges against those businesses in severe financial distress.

If you're concerned about the future of your business if interest rates change, it's worth considering a CVA or a pre-pack administration. Alternatively, you may be able to arrange an informal deal with creditors to ensure debt can be paid off while the business continues to trade. Call us on 0800 9700539 for help with arranging this or if you need further advice on all the options available.  


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