Company Voluntary Arrangement of builders

Overview:

  • General builders with a turnover of £4M
  • Overtraded with high WIP balances
  • HMRC very unsympathetic owing to poor compliance history


Investment:

  • HMRC – £600K
  • Trade – £270K
  • Bank – £84K


Outcomes:

  • Quantuma and accountants reviewed and restructured trading
  • Support of Bank and main merchants obtained
  • HMRC support also obtained after exhaustive discussions
  • Return to unsecured creditors 34%

 

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