A CVA is a formal insolvency process used as an alternative to Liquidation.
It allows a Company to put forward a proposal to pay all or part of its debts, which must provide a better outcome than the alternative, usually Liquidation.
A CVA is usually funded by trading profits but can also be funded by the introduction of additional capital. It is also a good opportunity to consider reducing overheads and revising operational efficiencies.
To discuss a CVA and the alternatives please book a free, confidential, no obligation meeting by calling one of our experts at Currie Young on 01782 394500