Birmingham Based Business Returned to Profitability, Saving 40 Jobs
In November 2019, The Entrepreneurs Circle successfully came out of its 5-year Company Voluntary Arrangement, administered by our London Team, headed up by Antony Batty and John Baalham.
The Entrepreneurs Circle Ran into Trouble in 2015
“Four years ago, if it wasn’t for Antony Batty and his team, I would have lost my business and over 40 staff would have lost their jobs.
We hit a major financial problem with half a million pounds of missing money, and I couldn’t see a way out. But Antony explained a Company Voluntary Arrangement to me and suddenly there was a light at the end of the tunnel.”
Generally, we recommend a CVA when a company with a seemingly healthy business finds itself with cash flow problems and creditor pressure due to a one-off event and is facing insolvency as a result. The cause of the problem could be the insolvency of a major customer, a contract going badly wrong, or significant rent increases by landlords, for example.
Under such/similar circumstances, a Company Voluntary Arrangement is often used to buy time to restructure the company and return it to financial health. Crucially, we always look for evidence that the company has the potential to return to profitability. The Entrepreneurs Circle fell into this category.
In November 2019 the Notice of Completion was Issued
“Four years on, we’ve emerged from our CVA with everything intact. Our reputation is enhanced, I’ve kept control of the business, our creditors are all happy and we’re growing rapidly. None of this would have happened without Antony Batty’s help, and the CVA has been absolutely brilliant for us. I’m so glad we did it.
John Baalham who looked after us through it all was amazing. He was so proactive and persistent. He found solutions that we would never have pursued, and I will always be forever in his debt.
I can’t recommend these guys enough. They did everything they said they would – and then more. I’m so pleased I found them in my hour of need.”
