Challenge
What was at stake.
The company faced overdue trade creditors, covenant pressure, and a cash cycle that could no longer fund production. Informal talks had stalled; directors needed a formal route that protected value without an immediate shut-down.
Approach
What MFAS did.
MFAS led a Company Voluntary Arrangement with transparent creditor engagement, a 13-week cash model, and negotiated payment terms. Parallel work reset purchasing, inventory, and debtor chase so the plan was fundable in operations—not only on paper.
Outcome
Where it landed.
The CVA was approved, critical suppliers stayed on side, and the business returned to a predictable cash rhythm within two quarters while meeting arrangement milestones.
In depth
Pressure had built over several quarters: input costs rose faster than prices, debtors stretched, and short-term facilities were repeatedly rolled. By the time directors sought formal advice, key suppliers were on stop and payroll was a week-to-week calculation.
We moved quickly to map creditor classes, security, and whether an informal workout still had oxygen. The facts pointed to a CVA as the cleanest way to bind dissenters while giving the company time to fix the cash engine.
The arrangement proposal was built from a living cash model—not a static P&L story. Creditor meetings focused on what would be paid, when, and what operating changes made those payments credible.
After approval, MFAS stayed close on reporting and early milestone tracking so trust did not erode in the first ninety days—the period where many arrangements quietly fail.