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• Guardian Case Example 1

  • Background
  • A clothing company was suffering significant losses due to market changes to cheap imports. Three important contracts had been lost. As a result of poor cash flow, the level of unpaid creditors increased. The business in the meantime had bought in new embroidering machinery. It had also won new, high value contracts as a result of taking on a new business manager.
  • Unfortunately, due to the loss of its major contract, the business could not maintain payments to it’s creditors on time. The business had long term prospects, due to the new contracts in place however needed some form of Creditor Protection in the short term.
  • Solution
  • Administration protected the business from on-going creditor pressure whilst the company worked out a schedule of repayments under a Company Voluntary Arrangement. The CVA repaid creditors in full over a 3 year period. This enabled the company to continue trading and keep its employees.
    (Please note that Administration may involve procedures other than a CVA)