A helping hand to stay competitive - cost control measures in business turnaround

Insolvency Practitioners know that both Individual Voluntary Arrangements(IVAs) and Company Voluntary Arrangements (CVAs) are great ways of saving businesses, getting them back on the right track and as a result preserving value for all stakeholders.

Creditors are often happy to sign up to these procedures as they are seen as a great way of getting paid, albeit over a period of time by instalments,  as the alternative is liquidation or administration which usually results in either a tiny return to creditors or nothing at all.

One of the big problems in making these rescue procedures work is cashflow, suppliers are reluctant to grant fresh credit terms so those in charge are running the business on a shoestring trying to make every penny count.

Making a profit in business is not just about sales, keeping costs down is equally, if not more important in these tough competitive times, when we are counting every penny, especially so in an insolvency rescue procedure.

By keeping costs under tight control those running businesses in both CVAs and IVAs can give themselves the maximum chance of survival and thereby provide the best chances of a return to creditors. But where is the director to go find the best deals?

This is where QuikSwitch comes in, the people at QuikSwitch will scour the market to find the best deals for:-

  • Power
  • Communications
  • Insurance
  • Finance

By using QuikSwitch’s services, the business owner can be sure they are getting the best deal and demonstrate to the Supervisor of the CVA or IVA that they are doing their very best to keep costs down to help keep the business going and provide the best return to creditors. By doing so the chances of the arrangement being successful can be greatly enhanced and all stakeholders benefit.

The Quikswitch team will prepare an in-depth analysis providing you with a breakdown of your current costs and the potential savings that can be achieved. They will then go out to tender on your behalf to seek the best possible price and service in the market place. Once you’ve seen the competitive quotes, Quikswitch take care of switching your contracts swiftly and easily allowing you to focus on running your business.

To arrange a free consultation, please contact:

0333 344 3446

 Article written by Peter Sargent, Consultant Insolvency Practitioner at Kingsland Business Recovery

Experienced in all areas of corporate and personal insolvency

Combined experience of over 30 years in all areas of corporate and personal insolvency. Read more...

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