A Company Voluntary Arrangement (CVA) is a formal process that helps businesses manage their debts while keeping the doors open. Unlike administration or liquidation, a CVA allows you, as the directors, to stay in control of your company, with the guidance of a Licensed Insolvency Practitioner.

Why Choose a CVA?

A CVA can give your business the breathing room it needs to get back on track. It stops creditor pressure, letting you focus on finding a long-term solution. Once the CVA is completed, your business is free from pre-CVA debts, giving you a fresh start. While a CVA isn’t right for every situation, it can be a great option for businesses that need time to restructure and recover.

Is a CVA Right for Your Business?

A CVA could be the right choice if your business has a solid foundation but is struggling with debts. It lets you stay in control of the company while working towards recovery, and if creditors see a realistic chance of repayment, they’re often willing to support the proposal.

Things to Keep in Mind

The sooner you act, the better your chances of success with a CVA. It’s best for businesses that have a clear plan for recovery, and gaining creditor support is essential. A well-prepared proposal can make all the difference in getting creditors on board. Contact YLA to discuss the options available.