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Case Studies


customer background

Andrew has been a self-employed farmer for the whole of his working life, having previously worked with his Father, in the production and supply of eggs.  His current income is generated from various aspects of the current farm business, which includes the sale of livestock, farm shop, and tea room.   

Andrew’s financial difficulties began in the late 1980’s when the industry suffered reputational damage as a result of inappropriate comments by a government Minister, concerning the risk of salmonella. As a result, egg sales in the UK plummeted.  This, coupled with increases in interest rates, and the death of his Father, had a devastating impact.  

In order to combat these challenges, Andrew diversified and slowly built up a successful business.  In subsequent years the farming industry has been hard hit by other well publicised crises.  Although he, and his family, worked tirelessly to overcome them, the business accrued significant liabilities which simply could not be met. 


Andrew sought advice from The Business Debt Advisor, and was counselled as to all of his options.  It was agreed that it would be beneficial for Andrew (and his creditors’) for him to enter into an IVA. 

The proposed terms of the IVA provided for Andrew to make an affordable monthly contribution from surplus trading income, and to introduce a lump sum from the sale of land.  It was anticipated that this will ensure repayment of creditors’ in full.   

approved Trader IVA solution

The IVA was approved, and is now approaching conclusion. Andrew has consistently made voluntary contributions even though it has a times been a struggle. A sale of a proportion of the farmland is in progress. It is anticipated that the sale will generate sufficient funds to repay unsecured creditors’ in full.

Situation Before IVA and Approved Solution

Total Unsecured Debt£325,965.21

Total Repaid (to date)£74,970.19

Dividend Received by Creditors (p/£)

Andrew’s Comments

“The IVA prevented the loss of our family farm but it has been a tough journey. When we were introduced to Bev and her team, we had fallen out with our accountants and financial control was fast slipping out of our hands. Bev worked with our new bookkeeper to prepare reliable forecasts and we have continued to do this every year. The Business Debt Advisor team have been patient but persistent and determined as we have been to achieve a successful outcome”.

Careful consideration must be given to all options available to a financially distressed business. For more advice, fill out our Contact Form and we will be in touch. Alternatively, call our FREE ADVICE LINE on 0800 781 0990.