A marquee hire and events company approached our team in
September 2020 with severe cashflow problems and significant
historic debt. We were able to help them continue trading through
the use of a CVA.
The client & the situation
Marquee hire and events business.
The company approached our team in September 2020 with severe
cashflow problems and significant historic debt. Added to this, due
to COVID-19 restrictions the business was effectively unable to
trade and due to the ongoing restrictions on the sector there was
uncertainty as to when it could begin again. As a result, debts
were continuing to accrue, and the business was now overstaffed.
However, due to the restructuring changes it would incur it could
not make any redundancies. The directors were very keen to make
sure that the business survived so that clients who numbered over
40 who had booked events and weddings received their service.
