Leeds, United Kingdom (13 June 2011) – Silentnight, one of the UK’s most successful bed manufacturers, have been forced to seek a Company Voluntary Arrangement (CVA) after the company’s growing debts led to banks refusing to renew their existing loans.
Silentnight’s chief executive claims that the company continues to make profits and generate cash, but that pension liabilities dating back to acquisitions made during the 1980s and 90s have rendered its debt unmanageable at the current time.
A CVA would enable Silentnight to receive an immediate injection of cash and continue trading, and Cooper Matthews, a leading provider of business debt advice and solutions for small to medium businesses, hope that the story will encourage many of the smaller businesses that are struggling in this difficult economic climate to consider a similar course of action.
“We never like to see any company suffering cash flow problems, regardless of their size,” commented a spokesperson for Cooper Matthews. “But we would like to think that seeing such a long-established and renowned company such as Silentnight making use of debt rescue services will show owners of smaller businesses that there is no shame in seeking out help.
“Unfortunately there is a stigma attached reaching out for assistance with financial problems, but the reality is that business debt services from experts such as us at Cooper Matthews can be the difference between a company falling into bankruptcy or recovering and establishing a sustainable business model.”
For more information about Cooper Matthews and their business debt advice, visit their website at http://coopermatthews.com/ or telephone 0800 840 40 42.
About Cooper Matthews:
Copper Matthews is a provider of business debt advice and solutions for small to medium businesses experiencing financial difficulties. They are committed to employing a whole market approach in order to identify and deliver the right solution for individual business needs, and, if necessary, are able to assist throughout the liquidation process.
Cooper Matthews Ltd – Head Office,
1a Ash Lane Business Park,
Tel: 0800 840 40 42
Fax: 0113 320 5678