Case study 9 – Funding for a haulage company in CVA

Our fast action saved a struggling business in the haulage trade.

What we did....

• Having been in a  company voluntary arrangement for 3 years this company faced a steep rise in contributions, but with falling sales and margins it was likely to fail.
• Cheswick Capital introduced our own specialist funders to refinance the balance sheet. This produced a new facility that was drawn down to pay off the CVA in a final settlement.
• With 20 years of CVA expertise we helped structure the directors detailed proposal to exit the scheme
• With over £500,00 to be raised in two tranches, the CVA would be exited for £250,000 and £277,000 was to be made available for working capital (but only if the CVA was brought to a close).
• Creditors accepted a reduction in overall CVA dividend of 34p to 24.9p in £1.
• The company left the CVA and has a good credit rating now

In a company voluntary arrangement and need to refinance or exit the CVA now? Call the CVA finance and CVA refinance experts now on 020 7416 6677