Voluntary Arrangement helps sole trader return to profitability

Mr W ran a busy building services business. Following a period of illness the business fell behind with payments to HM Revenue and Customs and was threatened with bankruptcy.

Mr W sought advice and was assisted to propose a voluntary arrangement with his creditors. Fully recovered from Illness, Mr W was able to continue the business and generate the funds needed to pay the debt which had built up. Mr W successfully completed his arrangement achieving near full repayment of the debt to HMRC and other creditors.