Travelodge CVA Confirmed

With the recent approval of the company voluntary arrangement (CVA) proposal for Travelodge by its creditors, the firm can now begin to restructure its property portfolio.

A huge part of the problem for the Travelodge was the unrealistic lease agreements within the company and the company voluntary arrangement will allow the business to start building off of firmer ground. 

As an alternative solution to liquidation, a company voluntary arrangement allows a struggling firm to trade on through the successful approval and process of the CVA insolvency tool.

For more information on company voluntary arrangement, company liquidation and other insolvency solutions that are available to you visit www.companydebt.com or call us free on 08000 746 757.

Portsmouth to be sold?

Looks like Portsmouth football club is to be sold off after a deal has been struck by administrators to off-load all of the senior players.

The previous FA Cup winners have been insolvent for some time now and they have been considered many insolvency solutions such as a company voluntary arrangement and voluntary liquidation.

The sale of the club will take place next week, days before the new season starts.

This shows the level of business that can struggle with insolvency, it's not exclusive to small UK limited companies. Businesses of all sizes can come into difficult times. The insolvency solutions are often the same to consider and it all depends on the company's situation as to which one they choose to help them towards their goal.

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Quarter 3 Company Administrations Up:

The amount of administrations carried out for limited companies is on the rise according to the London Gazette this week with an increase of 7.8 per cent. Cases in London remained the same as last quarter and the North East has seen the largest change in percentage with a 46.2 per cent increase. The Midlands saw a rise of 24.7 per cent.

Statistics from the London Gazette suggest the construction industry were the hit the hardest out of all the sectors. The retail industry and the services industry followed not far behind.

Other sectors included during the last quarter are 50 property companies, 67 from manufacturing, 60 from leisure and hospitality, 26 from healthcare and 55 from the Telecoms, media and technology industry. 

Company Administration can be a viable solution depending on the insolvency situation involved. If you would like to know more about administration or other insolvency solutions available contact us on 08000 747 757.

First Quartile Limited Complete Pre-Pack Administration:

A marketing company (First Quartile Limited) to brands such as JP Morgan, AXA & Prudential has finished a Pre-Pack Administration and is to be sold to a London-based agency.

MacIntyre Hudson were appointed as Administrators earlier this month.

A Pre-Pack Administration can be a much cleaner process as it gets rid of the retrospective liabilities attached to the legal entity, allowing for a clean start going forward.

To find out more about insolvency solutions and some of the services available to your company contact us.