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Company Voluntary Arrangement
Are you worried about the future for your company? A Company Voluntary Arrangement (CVA) enables your company to deal with its debts and improve its cash flow by coming to an arrangement with its creditors.
Under the terms of a CVA, your creditors agree to accept a certain sum of money in settlement of their debts. The CVA provides a structure for a proportion, or all of the debt, to be repaid over a fixed period of time up to five years. This can be achieved through the realisation of assets, monthly contributions, a third party lump sum, or a combination of these. Crucially, any offer has be affordable and sustainable for the company, whilst also being acceptable to creditors.
A CVA could also be a route back to normal trading for your business if it has previously been placed into administration.
Right for your business?
During the period of a CVA your business will continue to trade. Therefore, for a CVA to be successful you will need the co-operation and support of your creditors, your suppliers and your customers. Communications, negotiations and transparency are key. We have lots of experience of helping directors to put forward successful CVAs.
To find out how we can help you implement a successful CVA for your company, call us today on 0114 285 9500.