October 13th, 2020.
Any small business that needs protection from creditors while it continues to trade through Covid-19 will find it easier now the CVA process has been simplified.Insolvency body R3 has published a standard form extending the help bigger companies get when they go into administration but continue to trade.
Although high-street names such as New Look and Travelodge have entered company voluntary arrangements, (CVAs), until now they have been too complicated and costly for small businesses on life support.
What is a CVA?A CVA is a form of insolvency used by businesses to cut debts, restructure their capital or dispose of assets such as property leases.
For the full story at smallbusiness.co.uk CLICK HERE.