Sometimes a CVA may be the only solution - for example if HMRC or another creditor has issued a winding up petition. The company can apply to the Court for an adjournment of the petition while a CVA is put in place and this would normally be granted. But the CVA still has to be approved by the creditors before the petition is dismissed.

A CVA will not solve any underlying problems with the company - these need to be analysed and addressed as part of the overall process. And you are mortgaging the company’s future to pay for yesterday’s debts.